Source: Katarina Krempova¸ PKF Malta¸ November 2011

In accordance with the OECD’s internationally-agreed standard¸ the signing of a bilateral Tax Information Exchange Agreement (TIEA) between the Republic of Malta and Bermuda was announced by Bermuda’s Ministry of Finance on 24^th November 2011.

This agreement was signed by the Maltese High Commissioner Joseph Zammit Tabona and by Premier and Finance Minister Paula Cox on their official meeting in London as a result of negotiations at the third meeting of the Global Forum held on 31^st May and 1^st June of this year.

The Global Forum on Transparency and Exchange of Information for Tax Purposes is the multilateral framework¸ established with the aim to enhance international cooperation among tax authorities.

Therefore¸ TIEA will establish a legal platform to allow the respective countries to share tax information on request. This will ensure the administration and enforcement of both countries’ tax laws.

Read More: Times of Malta or Businesswire.com

    

Source: Treatypro.com