Tuesday, 19 July 2011

Gibraltar wants to close financial disclosure deal with Spain

Justice Minister Daniel Feetham
GIBRALTAR (Agencies) While Gibraltar has already signed 18 Tax Information Exchange Agreements (TIEA's) with OECD and EU member states, the Rock wants to close an agreement with Spain, Minister for Justice Daniel Feetham has said, according to local media. "The Gibraltar Government has already proposed that these same agreements be signed with Madrid as part of the negotiations of the Tripartite Forum," he declared. Feetham rejected the allegations made on occasions that Gibraltar refuses to cooperate with tax information exchange requests from Spain. He said that the problem lies in the non-recognition of Gibraltar's legal and administrative jurisdiction, which meant that Spanish requests have often been made directly to Britain. Gibraltar, therefore, is not under any legal obligation to comply with these requests as no agreement has been reached with the Spanish authorities.

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