Continuing a run of tax information exchange agreements that have been signed between nations in recent days, the UK has recently signed a TIEA with Gibraltar.

The accord was signed by the financial services secretary to the treasury, Lord Myners, and the chief minister of Gibraltar, Peter Caruana.

The agreement is subject to parliamentary approval in the UK, according to a statement from HM Revenue & Customs, the UK taxation authority.

TIEAs allow governments to enforce their domestic tax laws by exchanging, on request, information relevant to a tax matter covered by the arrangements. The new TIEA with Gibraltar provides for comprehensive exchange of information to the OECD and international tax standard in respect of UK taxes of all kinds. 

As a result of the latest agreement, the UK has now signed eight TIEAs, including with Guernsey in January and with Jersey in March 2009.  The UK also exchanges information with over 100 countries under a variety of agreements.