Malta and Bermuda signed a Tax Information Exchange Agreement (TIEA)
Ministry of Foreign Affairs Malta
05 December 2011
On 25 November 2011, Malta and Bermuda signed a Tax
Information Exchange Agreement (TIEA) - which provides for a full exchange of
information between the two countries on tax matters.
The High Commissioner of Malta in the UK, HE Mr
Joseph Zammit Tabona signed on behalf of the Government of Malta and the
Bermuda Premier, Paula Cox signed on behalf of the Government of Bermuda. The
signing ceremony took place at the Malta High Commission, London.
High Commissioner Zammit Tabona said this Agreement
“is instrumental for bilateral relations to be strengthened” and “demonstrated
good practice in the global financial sector.”
Bermuda Premier Cox said that this signing “helps
solidify (Bermuda’s) relationship with the European Union and marks the 12th
Tax Information Exchange Agreement with an EU member state."
Both signatories confirmed the agreement included all
standard means to ensure due process was followed in tax information requests
to both countries respectively, including, for example, provisions to protect
confidentiality of information. The TIEA will also adhere to public policy
considerations and provisions related to protecting legal privilege.