Australia-Guernsey tax information exchange agreement

The Australian and Guernsey governments have signed a tax information exchange agreement (TIEA). The TIEA provides a framework for the governments to exchange information with each other in both criminal and civil tax matters.

Also, Australia and Guernsey have signed an Agreement for the allocation of taxing rights with respect to certain individuals and to establish a mutual agreement procedure in respect of transfer pricing adjustments (ATR agreement).

This ATR agreement will:

• allocate taxing rights over certain income earned by government employees and students
• help resolve transfer pricing disputes.

The Australia-Guernsey TIEA and ATR agreement entered into force on 27 July 2010 and 24 August 2011, respectively.

Media release

Assistant Treasurer, the Hon Nick Sherry, announced that the governments had signed these agreements in Media Release No. 069 of 2009.

Legislation and supporting material

The legislation received royal assent on 27 June 2011:

• International Tax Agreements Amendment Act (No. 1) 2011
• Explanatory Memorandum.

More information For more information about Australia's tax treaties, refer to: international tax agreements home page tax treaties on the Treasury website.