LONDON (Bloomberg) — The US and Gibraltar, a UK territory on the southern tip of Spain, agreed to share information to help track tax evaders.

At the Group of 20 leaders meeting April 2, "the topic of offshore tax evasion and strengthening the implementation of international standards by offshore financial centres will be a topic of discussion", the two countries said in a joint statement released by the Treasury today.

The pact, called the Tax Information Exchange Agreement, gives the US access to details needed to enforce American tax laws, including information on bank accounts in Gibraltar, the statement said.

"The TIEA will permit the United States to seek information from Gibraltar and vice versa on all types of taxes in both civil and criminal matters," it said.

Gibraltar, population 28,034, is a UK territory on the southern coast of Spain that has an economy dominated by financial, shipping and tourism industries, according to US government figures.