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South Africa Signs TIEA with Gibraltar
London-based Tax-News.com reports that Gibraltar's Minister for Financial Services, Gilbert Licudi, has welcomed the signing of the territory's 20th Tax Information Exchange Agreement (TIEA), with South Africa. The agreement was signed first in Pretoria by South Africa's Finance Minister, Pravin Gordhan.
"I am delighted to have signed this tax information exchange agreement," Licudi said, welcoming the pact. "These agreements are fundamental to assist in widening the scope of business opportunities for Gibraltar-based financial services firms." Licudi stressed that the government's manifesto said that it wanted to broaden Gibraltar's business prospects to include more countries outside Europe.
Speaking on behalf of the South African government, Gordhan said that South Africa welcomes the signing of the Tax Information Exchange Agreement with Gibraltar. According to Tax-News.com, he added that "these agreements provide jurisdictions with the legal basis for effective exchange of information, a vital function in the fight against tax evasion and unacceptable tax avoidance." Gordhan said further that South Africa looks forward to "future cooperation and assistance between our jurisdictions in this global endeavour, which is already reflecting major progress towards more transparency in tax matters."
Read the full article on www.tax-news.com.
