Double Tax Agreements and Tax Information Exchange Agreements (TIEAs) – Update

As of 30th April 2010, Ireland has 56 Double Taxation Agreements (“DTA”), which are signed and fully effective (including the DTA’s passed in the Finance Act 2010 on the 3rd April 2010). These include agreements with Bahrain, Belarus, Bosnia and Herzegovina, Georgia, Moldova and Serbia.

There are an additional seven agreements completed and awaiting signature, these are with: Armenia, Kuwait, Montenegro, Morocco, Saudi Arabia, Thailand and the United Arab Emirates (UAE). Protocol Agreements with Germany and South Africa have also been signed and are awaiting signature.

Seven new agreements are currently in progress, these are with: Argentina; Azerbaijan; Egypt; Hong Kong; Singapore; Tunisia and the Ukraine.

Six renegotiations are currently in progress, these are: Belgium (Protocol), Germany, Italy, Korea, Pakistan and Switzerland. There are currently four planned negotiations with Brazil, Indonesia, Kazakhstan and the Philippines.

On completion of the above, Ireland will have a Double Taxation Treaty network of 74 countries.

Ireland has also concluded Tax Information Exchange Agreements (TIEAs) for affording relief from double taxation with respect to certain income of individuals and establishing mutual agreement procedures in connection with the adjustment of profits of associated enterprises with the Isle of Man, Guernsey, and Jersey. The Isle of Man agreement came in to effect for tax periods from 1st January 2009 and the Jersey and Guernsey agreements came into effect for tax periods from 1st January 2010.

Tax Information Exchange Agreements (TIEAs)

Ireland has also concluded Tax Information Exchange Agreements (TIEAs) with Anguilla, Antigua and Barbuda, Bermuda, the British Virgin Islands, the Cayman Islands, the Cook Islands, Gibraltar, Liechtenstein, Samoa, St Lucia, St. Vincent & the Grenadines and the Turks & Caicos Islands. The agreements with Anguilla, Bermuda, the Cayman Islands, Gibraltar, Liechtenstein, and the Turks and Caicos came in to effect with the passing of the Finance Act 2010 and the agreements with the remaining countries are currently in varying stages of the process to become law with some at the final stage, however to date they have not come in to effect.

In addition, Ireland has been designated by the Cayman Islands as a country that may make requests for tax information under Part IV of the Tax Information Authority Law. This allows the Revenue Commissioners to request information relevant to a tax investigation (including bank and entity ownership information) from the Cayman Islands authorities without the necessity of a bilateral TIEA. This applies for taxable periods beginning on or after 1st May 2009.