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Six Jurisdictions Sign Up To Automatic Data Exchange Pact Over UK Taxpayers

Tom Burroughes, Group Editor , London, 29 November 2013

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Six jurisdictions have agreed to automatically share information on UK taxpayers with the UK’s revenue authority, following a meeting of global leaders in Indonesia last week.

Six jurisdictions have agreed to automatically share information on UK taxpayers with the UK’s revenue authority, following a meeting of global leaders in Indonesia last week.

Following the meeting of the Global Forum on Tax Transparency in Jakarta, Luxembourg, Liechtenstein, Colombia, Greece, Iceland and Malta have agreed to automatically share information with HM Revenue & Customs, according to a statement from the UK government yesterday.

Initially announced in April by the Group of Five (G5) countries of the UK, France, Germany, Spain and Italy, the multi-lateral information sharing "pilot" arrangement will see tax information automatically shared between the participating jurisdictions, the statement said. A total of 37 jurisdictions have now signed up to the pilot.

The announcement comes as the UK concludes the signings of tax agreements with the Overseas Territories of Bermuda, the British Virgin Islands, Gibraltar, Montserrat and the Turks and Caicos Islands, following the earlier agreements concluded with the Isle of Man, Guernsey, Jersey and the Cayman Islands.

As well as signing agreements with the UK, the Crown Dependencies and Overseas Territories have agreed to be part of the G5 multi-lateral information sharing pilot, the statement added.

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