Protocol

Protocol (2014) 

PROTOCOL Amending the Agreement between the Government of the United States of America and the Government of Gibraltar for the Exchange of Information Relating to Taxes, signed at London, on March 31, 2009.

The Government of the United States of America and the Government of Gibraltar (hereinafter “the parties”),

Desiring to amend the Agreement between the Government of the United States of America and the Government of Gibraltar for the Exchange of Information Relating to Taxes, signed at London, on March 31, 2009,

Noting that the Government of the United Kingdom of Great Britain and Northern Ireland (the “United Kingdom”) provided a copy of a Letter of Entrustment, via diplomatic note number EUD MED/001/14 of 17 April 2014, to the United States in which the United Kingdom has entrusted Gibraltar to negotiate and conclude a tax information exchange agreement with the United States,

Have agreed as follows:

Article I

The following shall be added after Article 5 (Exchange of Information Upon Request):

“ARTICLE 5A
Automatic Exchange of Information

1. The competent authorities of the parties may automatically transmit information to each other for the purposes referred to in Article 1 (Scope of the Agreement). The parties shall determine the items of information to be exchanged pursuant to this Article and the procedures to be used to exchange such items of information.

2. The competent authorities of the parties may mutually agree on additional procedures to be used for the purposes of this Article.

ARTICLE 5B
Spontaneous Exchange of Information

The competent authority of a party may spontaneously transmit to the competent authority of the other party information that has come to the attention of the first-mentioned competent authority and that the first-mentioned competent authority supposes to be foreseeably relevant to the accomplishment of the purposes referred to in Article 1 (Scope of the Agreement). The competent authorities of the parties shall determine the procedures to be used to exchange such information.”

Article II

This Agreement shall enter into force one month from the date of Gibraltar’s written notification to the United States that Gibraltar has completed its necessary internal procedures for entry into force of this Agreement.

In witness whereof, the undersigned, being duly authorized thereto by the respective parties, have signed this Protocol.

Done at London in duplicate, this 8th day of May, 2014.

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THE UNITED STATES OF AMERICA:    GIBRALTAR:>