The relevant authorities exchange information nine months after the end of the year. The first exchange date by the relevant authorities was September 30, 2016 for the years 31 December 2015 and 2014 for accounts submitted for reporting by the United Kingdom and September 30, 2015 for the year ended December 31, 2014 for accounts submitted for reporting in the United States. The deadline for reporting accounts is July 31. The governments of Australia and Gibraltar have signed an agreement to exchange tax information. The agreement provides for the exchange of information on request for both civil and criminal purposes. In June 2015, the OECD`s Tax Affairs Committee (CFA) approved a standard protocol on the agreement. The standard protocol can be used by jurisdictions if they wish to extend the scope of their existing TIEAs to the automatic and/or spontaneous exchange of information. The Tax Information Exchange Agreement: exchange of information – in force and “2019 Gibraltar-UK Double Taxation Agreement – not in force” have been added. The decision of the Presidency of the Republic of Turkey, published in the Official Journal of 23 November 2018, announced that the tax information exchange agreements concluded with the Isle of Man and Gibraltar in 2012 were in force. Jurisdictions can also use the text of the articles in the model protocol if they wish to include the automatic and spontaneous exchange of information in a new TIEA.

The aim of this agreement is to promote international cooperation in tax matters through the exchange of information. It was developed by the OECD Global Forum Working Group on Effective Information Exchange. The Government of Gibraltar has committed to adopting the OECD Common Reporting Standard (SIR) at an early stage. The law came into force on December 22, 2016. The first time the relevant authorities have exchanged information is on 30 September 2017 for the period 21 December 2016. The deadline for reporting accounts is July 31. The full text of the tax information exchange agreements with the Isle of Man and Gibraltar can be accessed following the following links: Gibraltar has established TIEAs with different countries, but Spain is not one of them and, of course, they do not provide for automatic exchange ™.

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