Guernsey – Spain: Tax Information Exchange Agreement Signed
10 November 2015, Guernsey and Spain signed a Tax Information Exchange Agreement.
The two countries shall notify each other through appropriate channels that the internal procedures required by each Country for the entry into force of the Agreement have been complied with.
The Agreement shall enter into force after a period of three months following the date of receipt of the later of the notifications referred to above. Upon the date of entry into force, it shall have effect:
a. for criminal tax matters that could still be investigated on that date, immediately; and
b. for all other matters covered in Article 1 of the Agreement on that date, but only in respect of taxable periods beginning on or after that date or, where there is no taxable period, all charges to tax arising on or after that date.
Guernsey shall cease to be considered one of the territories referred to in paragraph 1 of the First Additional Provision of the Spanish Law to Avoid Tax Evasion (Disposición Adicional primera de la Ley 36/2006 de Medidas para la Prevención del Fraude Fiscal) of 29 November 2006 on the date on which the Agreement shall have effect.
