Both offshore territories signed their twelfth TIEA today, placing them on the ‘white list’ of those countries which have substantially implemented the internationally agreed tax standard as set by the OECD.
The BVI says it hopes to sign its 13th TIEA with the Netherlands in the very near future and discussions are already underway with Ireland.
The BVI currently has agreements with the US, UK, Australia, France and the Nordic Alliance including Denmark, Finland, Iceland, Norway and Sweden.
Upon signing the agreement, BVI Premier the Hon Ralph O’Neal OBE said: “The conclusion of this TIEA demonstrates the commitment of both the BVI and the New Zealand governments to the OECD principles of transparency and effective exchange of information.
“We are delighted that, in signing this TIEA with New Zealand today, we are now on the OECD’s white list.”