Guernsey has signed a tax information exchange agreement (TIEA) with the New Zealand government. This agreement brings the total number of TIEAs signed by Guernsey to 14 and is the twelfth signed by Guernsey with a member of the Organisation for Economic Co-operation and Development (OECD).

In addition to being included on the Group of 20 'white list' published on April 2 2009, Guernsey will now also be regarded as having substantially implemented the OECD's internationally agreed tax standard on exchange of information.

"In addition to this agreement with New Zealand, Guernsey is continuing to negotiate the conclusion of TIEAs with many more countries and we will be signing further TIEAs in the coming months," noted chief minister Lyndon Trott.

Unlike previous TIEAs the agreement with New Zealand is a composite one. There are no separate agreements where additional benefits are agreed. The deal covers exchange of information and the allocation of certain taxing rights for individuals, but each of the provisions is comparable to those in the other TIEAs signed by Guernsey.

On request Guernsey will exchange bank and other information relating to both criminal and civil tax matters.

Guernsey has previously signed Tax Information Agreements with Denmark, Faroe Islands, Finland, France, Germany, Greenland, Iceland, Ireland, Netherlands, Norway, Sweden, UK and US.