As per recent reports, Bermuda and New Zealand have officially activated their first-ever tax information exchange agreement, which came into effect on 15 December 2017. Initially signed on 16 April 2009, the agreement covers all relevant tax matters for taxable periods commencing on or after 1 January 2019.
A tax information exchange agreement (TIEA) enables the competent authorities of the participating countries to share information on tax matters, thereby assisting each other in administering and enforcing their respective domestic tax laws.
For cases without a specified taxable period, it applies to all tax charges arising from that date onwards.
