Channel Islands maintain TIEAs still important

Although the Isle of Man will move to automatic exchange agreements, the Crown Dependencies say they will continue to sign TIEAs and believe they have a future in formalising agreements between jurisdictions. TIEAs are bilateral agreements under which territories agree to co-operate in tax matters through exchange of information, while automatic exchange of information stops account holders from withholding tax details from the authorities. "TIEAs will still have a strong future and formalise a process of checks and balances between jurisdictions," says Peter Niven, chief executive of...