JimenaPulse

About Jimena de la Frontera, the province of Cadiz and Spain as a whole, focused on this small village in the mountains

Germany signs tax agreement with Gibraltar

TaxHaven_cartoon (The Gibraltar Chronicle) Germany signed a tax agreement with Gibraltar that gives German authorities access to information on its citizens, Bloomberg the international financial news service reported yesterday, as the British territory bends to increased global pressure against tax havens.>Bloomberg stated: “According to the agreement, Germany will have access on request to information relevant to their tax laws, irrespective of whether an investigation has begun”, the Finance Ministry in Berlin said.
“The agreement is an important step in worldwide efforts for an international financial system that is not distorted through scant transparency and the lack of an effective exchange of tax information,” a German Government spokesman said.
Tax havens and other jurisdictions are seeking to conform to standards set by the Organization for Economic Co-operation and Development as the Group to target unco-operative tax practices in a bid to counter the global financial crisis.
Bloomberg adds: “Gibraltar, which is on the OECD’s “grey list” of tax havens that have committed to but not yet implemented global standards, signed a similar agreement with the US in March.”

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