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Cox signs TIEA with Argentina

Premier Paula Cox yesterday signed a tax information exchange agreement (TIEA) with Argentina, the 27th such agreement the Island has entered into.

Ms Cox took the opportunity to underline the importance of international business to the Bermuda economy.

“These treaty agreements affect all of us,” she said. “International business affects us all. When international business does well we all do well.”

The Premier added that TIEAs enhanced Bermuda’s international reputation and there were two key elements: the need to continue signing TIEAs with relevant economic partners and the need to ensure that domestic laws, such as those involving bank confidentiality, did not get in the way of a Finance Minister’s request for information to share under a TIEA.

“If we falter on either of these two elements this adversely affects Bermuda and can cause harm to our international reputation and also result in a loss of business opportunity,” Premier Cox said.

“That is why we are here today signing our 27th agreement for exchange of information on tax matters. The Government is doing its part.”

The leader of the Argentinian delegation, Dr Ricardo Echegaray, signed the agreement on behalf of the South American country.

Inking the deal: Premier Paula Cox and Dr Ricardo Echegaray, head of the Argentinian Federal Administration of Public Revenues (AFIP) sign the TIEA

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Published August 23, 2011 at 2:00 am (Updated August 23, 2011 at 10:04 am)

Cox signs TIEA with Argentina

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