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Germany, Italy, France and Spain to Enter Tax Exchange Network

Town Hall in FranceThe list of countries with which HM Revenue and Customs exchange tax information is ever growing and the Government has today (9 April) reported that it has reached agreement with France, Germany, Italy and Spain to develop and pilot multilateral tax information exchange.

The system proposed will involve the automatic exchange of information about taxpayers and is said to be designed to help catch and deter tax evaders as well as provide a template for wider multilateral automatic tax information exchange.

Closer to home, a package of measures designed for those hiding assets offshore was agreed between the UK and the governments of the Isle of Man in February 2013, and Guernsey and Jersey in March 2013.