Explanatory note

The Schedule to this Order contains arrangements comprising an Exchange of Letters and an Agreement (“the Arrangements”) amending the Agreement between the United Kingdom and Gibraltar for the exchange of information relating to tax matters (“the 2009 Agreement”). The 2009 Agreement was scheduled to the International Tax Enforcement (Gibraltar) Order 2010 (S.I. 2010/2680). This Order gives effect to the Arrangements.

Article 2 makes a declaration that it is expedient that the Arrangements should have effect.

The Arrangements relate to the exchange of information in tax matters and adds new Articles 5A and 5B to the 2009 Agreement to allow for the automatic and spontaneous exchange of information.

The Arrangements will enter into force on the date of the later of the notifications by each territory of the completion of its legislative procedures and take effect for information exchanged on or after that date.

The date of entry into force will, in due course, be published in the London, Edinburgh and Belfast Gazettes.

A Tax Information and Impact Note has not been produced for this Order as it gives effect to a previously announced policy to enact a tax information exchange agreement.