Ireland Signs Tax Cooperation Agreement with the British Virgin Islands
In London today (07/12/09) the Ambassador of Ireland to the United Kingdom, His Excellency Mr Bobby McDonagh, signed a Tax Information Exchange Agreement between Ireland and the British Virgin Islands.
The Tax Information Exchange Agreement is based on a model agreement developed by the OECD. It will allow the Revenue Commissioners to request information from their counterpart in the British Virgin Islands that is relevant to an Irish tax investigation. This information would typically relate to bank accounts or the beneficial ownership of companies or trusts. Likewise, the British Virgin Islands authorities may request the Revenue Commissioners to obtain and provide information of relevance to its tax investigations.
In a joint statement both parties stated that the Agreement represents a milestone in relations between the two Governments and that both are committed to examine other areas of mutual co-operation and benefit.
Ireland has signed similar agreements with Anguilla, Bermuda, the Cayman Islands, the Isle of Man, Jersey, Guernsey, Gibraltar, Liechtenstein and the Turks and Caicos Islands.
[Ends 07/12/2009]