NZ Guernsey Sign TIEA

July 22, 2009 International TaxationNew Zealand Taxation  No comments

The New Zealand Government and Guernsey have signed an OECD standard agreement for the sharing of information for taxation purposes.

In a London ceremony on the 22nd of July, Revenue Minister Peter Dunne signed a Tax Information Exchange Agreement with Guernsey on behalf of New Zealand. In a Government released statement, Peter Dunne said “The Tax Information Exchange Agreement with Guernsey will help to encourage greater co-operation between tax authorities,” and “I am very pleased with this important addition to New Zealand’s network of information exchange agreements.”

The Tax Information Exchange Agreement was put in place to allow a procedure by which the two governments can request tax records, business books and accounts, bank information, ownership information, with the explicit aim of preventing tax evasion.