TAX INFORMATION (EXCHANGE AND MUTUAL ADMINISTRATIVE ASSISTANCE) (UNITED KINGDOM) (AMENDMENT) ORDER 2014
(Legal Notice 3 of 2014) ARRANGEMENT OF PARAGRAPHS PARAGRAPH
1. 2. 3.
Citation and commencement Application of Ordinance the United Kingdom Tax Information Exchange Amendment Agreement Agreement
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TAX INFORMATION (EXCHANGE AND MUTUAL ADMINISTRATIVE ASSISTANCE) (UNITED KINGDOM) (AMENDMENT) ORDER 2014
(Legal Notice 3 of 2014)
Ord. 20 of 2009
MADE by the Acting Governor under section 3(5) of the Tax Information (Exchange and Mutual Administrative Assistance) Ordinance.
Citation and commencement 1. This Order may be cited as the Tax Information (Exchange and Mutual Administrative Assistance) (United Kingdom) (Amendment) Order 2014 and shall come into operation on publication.
Application of Ordinance the United Kingdom Tax Information Exchange Amendment Agreement
L.N. 37 of 2010
2. The provisions of the Tax Information (Exchange and Mutual Administrative Assistance) Ordinance shall apply for the purpose of giving effect to the terms of the Agreement entered into on 26th November 2013 between the Government of the Turks and Caicos Islands and the Government of the United Kingdom and Northern Ireland (“the Agreement ”) to amend the 2009 Arrangement for exchange of information on taxation matters entered between the parties and enforced in the Islands by the Tax Information Exchange (United Kingdom) Order 2010.
Agreement 3. The Agreement is set out in the Schedule.
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SCHEDULE ARRANGEMENT BETWEEN THE GOVERNMENT OF THE UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND AND THE GOVERNMENT OF THE TURKS AND CAICOS ISLANDS AMENDING THE 2009 ARRANGEMENT FOR THE EXCHANGE OF INFORMATION RELATING TO TAXES The United Kingdom and the Turks and Caicos Islands (“the Territories”) desiring to amend the Arrangement between the two territories for the exchange of information relating to tax matters (“the 2009 Arrangement”), have agreed as follows: 1. The following shall be added after Paragraph 5 (Exchange of Information Upon Request): “PARAGRAPH 5A AUTOMATIC EXCHANGE OF INFORMATION 1. The competent authorities of the Territories may automatically transmit information to each other for the purposes referred to in Paragraph 1 (Scope of Arrangement). The Territories shall determine the items of information to be exchanged pursuant to this Paragraph and the procedures to be used to exchange such items of information. 2. The competent authorities of the Territories may mutually agree on additional procedures to be used for the purposes of this Paragraph. PARAGRAPH 5B SPONTANEOUS EXCHANGE OF INFORMATION The competent authority of a Territory may spontaneously transmit to the competent authority of the other Territory information that has come to the attention of the firstmentioned competent authority and that the first-mentioned competent authority supposes to be foreseeably relevant to the accomplishment of the purposes referred to in Paragraph 1 (Scope of Arrangement). The competent authorities of the Territories shall determine the procedures to be used to exchange such information.” 2. Each of the Territories shall notify the other of the completion of the procedures required by its law for the bringing into force of this Arrangement. This Arrangement shall enter into force on the date of the later of these notifications and shall have
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effect for information exchanged on or after that date without regard to the taxable period to which the information relates.
MADE this 4th day of February 2014
ANYA WILLIAMS ACTING GOVERNOR
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EXPLANATORY NOTE (This Note is not part of the Order) This Order seeks to give effect to the Arrangement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the Turks and Caicos Islands to amend the 2009 Arrangement which came into force in the Islands in 2010, which amendment Arrangement was signed on 26th November, 2013.
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