The Government of Anguilla has signed an intergovernmental agreement (IGA) with the UK to facilitate the exchange of tax information on an automatic basis.
The agreement was signed on behalf of the Government of Anguilla by its chief minister and minister of finance, Hubert Hughes and UK’s exchequer secretary to the treasury, David Gauke, according to anguillanews.com.
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"The signing of this agreement demonstrates Anguilla’s commitment to openness and transparency. Fighting the scourge of tax evasion and money laundering is a priority for us and we play our part in implementing a single global standard in the automatic exchange of information," the website quoted Hughes as saying.
The agreement requires financial institutions in Anguilla to report information on financial accounts that are substantially owned by persons with UK tax-reporting obligations, to the Government of Anguilla. The Government of Anguilla will then forward the information to the UK’s HMRC.
Anguilla already automatically exchanges tax information with European Union Member States in respect to some financial products under the EU Savings Directive.
The British Government has also already signed FATCA-style intergovernmental agreements with the Crown Dependencies and some of the Overseas Territories, including Bermuda, the British Virgin Islands and the Cayman Islands.
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