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Gibraltar opens up for tax transparency

The government of Gibraltar has announced that it will make its tax information available to other states in a bid for more transparency to help with the consequences of the current economic crisis. In a statement, the government of Gibraltar said that it has already concluded the text of an agreement with the US and is waiting for documents to be signed. It also said: 'We share that international co-operation in tax matters has become increasingly important and will inevitably and necessarily be an ingredient of the new financial order that will emerge in the aftermath of the current global financial crisis.' The announcements come soon before global leaders are to meet for the G-20 summit in London. It is speculated that tax and issues of the financial crisis are to be of high priority for discussion.
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