Legal framework for exchange: Types of international agreement: Overview
There are three kinds of legal gateway potentially available to the UK for an exchange with another jurisdiction:
A bilateral Double Taxation Agreement (IEIM210100);
A bilateral Tax Information Exchange Agreement (IEIM210200); and
Multilateral exchange agreements.
The UK is party to two multilateral exchange agreements:
The EU Directive on Administrative Cooperation in the Field of Taxation, for exchanges with EU Member States (IEIM210400); and
The OECD/CoE Multilateral Convention on Mutual Administrative Assistance in Tax Matters (IEIM210300), for exchanges with nearly 100 jurisdictions worldwide.
In some cases, the UK will have multiple forms of agreement with a given jurisdiction –particularly where they and we are both a party to a multilateral agreement. (This content has been withheld because of exemptions in the Freedom of Information Act 2000)