Latest Treaty Updates: Anguilla

Canada - Anguilla

The Canadian Ministry of Finance has noted the entry into force on October 12, 2011, of the TIEA between Canada and Anguilla, signed on October 28, 2010.

Sweden - Anguilla

According to preliminary media reports, the TIEA between Anguilla and Sweden entered into force on June 1, 2011. The TIEA was signed on December 14, 2009.

Portugal - Anguilla

According to a Portuguese Finance Ministry release, dated June 17, 2011, a TIEA with Anguilla has been signed. The TIEA is based on the OECD model, and provides for the exchange of information about the movement of funds, along with ownership of companies, foundations, trusts or other such vehicles.

United Kingdom - Anguilla

The TIEA was signed on July 20, 2009, and entered into force with effect from February 17, 2011.In the UK, the TIEA applies to: income tax, corporation tax, capital gains tax, inheritance tax and VAT. In the case of Anguilla, the TIEA applies to: property tax, stamp duty, accommodation tax, vacation residential asset levy, and import, export etc duties, and to controls on the movement of controlled items across national boundaries. The TIEA provides for the exchange of information on administration of domestic tax laws, including information relevant to the determination, assessment, verification, enforcement, recovery or collection of tax claims, and the investigation/prosecution of tax matters.

Treaty Updates by Territory

Latest News

French Senate Backs Oman DTA Protocol

The French Senate has recently adopted a bill authorizing the approval of a protocol to the bilateral agreement between France and Oman aimed at avoiding double taxation.

Portugal Expands Tax Treaty Remit

Portugal is to add to its collection of tax treaties still further, with the announcement that negotiations have been concluded with two key countries, and that a new tax information exchange agreement has been signed.

NZ Emissions 'Tax' Attacked

The ACT New Zealand Party, a member of the country’s present coalition government, has continued its opposition to New Zealand’s new carbon emissions trading scheme, calling it a tax that will increase inflation in the economy.

Hong Kong Property Taxes Reviewed

Hong Kong’s Financial Secretary, John C Tsang, made the traditional post-budget speech at the Joint Business Community Luncheon on March 12 and, in particular, reviewed the tax measures taken to increase the transaction cost of property speculation so as to reduce the risk of a property bubble being created.

Malaysia Not Cancelling GST

After a government meeting, Malaysia’s Second Finance Minister, Datuk Seri Ahmad Husni Hanadzlah, has rejected any suggestion that the proposed introduction of a goods and services tax has been cancelled.

Australia Promised Full Debate On Tax Review

Following indications that the Australian government was thinking of a delay to the release of the Henry tax review, the Treasurer, Wayne Swan, has now confirmed that it will be issued in good time for a full debate on any proposed tax changes.

Orascom Loses Algerian Tax Appeal

Egyptian telecom company, Orascom Telecom, has announced that its Algerian subsidiary, Orascom Telecom Algérie, has received a rejection to its appeal, made in December last year, against the notice for taxes and penalties it had received from the Algerian tax authorities the month previously.

Switzerland, Slovakia Initial Revised DTA

It has recently emerged that Switzerland and Slovakia have initialled a revised bilateral double taxation agreement, containing the Organization for Economic Cooperation and Development’s standard on tax information exchange.

UK Budget To Hit The Rich

Wealthy individuals may have less than two weeks to put plans in place to reduce the tax impact of the Chancellor’s pre-election Budget, warns PKF Accountants and business advisers.

Germany Approves Liechtenstein TIEA

Germany’s Cabinet has recently approved a bill pertaining to the bilateral tax information exchange agreement with Liechtenstein.

UAE Completes VAT Study

Authorities in the United Arab Emirates are inching closer to the introduction of a value-added tax.

IRS Offers Help To Struggling Taxpayers

The US Internal Revenue Service has announced several additional steps it is taking this tax season to help people having difficulties meeting their tax obligations because of unemployment or other financial problems.

Baucus Seeks Trade Preference Reform

Senate Finance Committee Chairman Max Baucus is leading efforts for reform of US trade preference programs accorded to developing countries.

Jersey Riding Out Onshore Storm

Jersey will overcome the evolving challenges being faced by offshore international financial centres, Geoff Cook, Chief Executive of Jersey Finance, told participants at a Breakfast Briefing in London.

OECD Urges Fiscal Policy Shift

Governments must now gear their economies towards jobs, international competitiveness and increasing the tax-take, the Organization for Economic Cooperation and Development has said in its latest ‘Going for Growth’ report, analyzing the next step for recovering economies.

BVI To Review Taxes And Fees

British Virgin Islands Prime Minister, Ralph O’Neal has said that the territory will run a budget surplus during 2010, although the government still intends to review indirect taxes and fees on financial services.

Bahrain And UK Sign DTA

The Kingdom of Bahrain’s Minister of Finance, Shaikh Ahmed bin Mohammed Al Khalifa, and UK ambassador, Jamie Bowden, signed a comprehensive double taxation agreement between the two countries in Manama on March 10.

Australia And Chile Sign DTA

Australia’s Assistant Treasurer, Nick Sherry, has announced that Australia and Chile have signed a comprehensive bilateral double taxation agreement – the second such agreement between Australia and a South American country.

Swiss-German Tax Talks Resume

During a recent visit to Berlin, Switzerland’s State Secretary Michael Ambühl, Head of the State Secretariat for International Financial Matters in the Federal Department of Finance, met with representatives of Germany's Federal Ministry of Finance and Federal Chancellery to exchange ideas on current financial and tax policy issues.

US Senate Approves Tax Extenders Bill

US Senate Finance Committee Chairman Max Baucus has applauded the Senate’s passage of legislation to extend tax cuts, unemployment insurance benefits and eligibility for unemployment benefits and health care for unemployed workers through the end of 2010.

MEPs Push EU Tobin Tax

In a recently adopted resolution, the European Parliament has emphasized the need to develop plans for a global tax to discourage excessive risk-taking by financial institutions and to ensure that the financial industry pays for damage caused by the financial crisis.

Tax Relief For California Storm Victims

The State of California’s Franchise Tax Board on March 9 announced special tax relief for California taxpayers affected by the recent severe winter storms that started in January.

OECD Praises Portugal's Fiscal Plan

The Organization for Economic Cooperation and Development has welcomed Portugal’s fiscal consolidation plan, emphasizing that it will serve to support growth.

Belgium's Kilometer Tax Opposed

The Humanist group cdH of the Walloon parliament in Belgium has rejected the idea of a road tax levied per kilometre travelled, advocating instead the introduction of an inclusive road tax disc, which could then be modified to take certain environmental criteria into account.

Bahamas Achieves White-Listing

The Bahamas has achieved a place on the Organization for Economic Cooperation and Development's ‘white list’ following the signing of Tax Information Exchange Agreements with the seven Nordic economies of Denmark, the Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden, on March 10.