The aim of this agreement is to promote international cooperation in tax matters through the exchange of information. It was developed by the OECD Global Forum Working Group on Effective Information Exchange. The agreement was born out of the OECD`s work on combating harmful tax practices. The lack of effective exchange of information is one of the main criteria for determining harmful tax practices. The agreement is the standard for the effective exchange of information within the meaning of the OECD`s initiative on harmful tax practices. The exchange of information on request was completed by an automatic procedure on 29 October 2014.  The automatic process must be based on a common reporting standard. In June 2015, the OECD`s Tax Affairs Committee (CFA) approved a standard protocol on the agreement. The standard protocol can be used by jurisdictions if they wish to extend the scope of their existing TIEAs to the automatic and/or spontaneous exchange of information. For the automatic exchange of information, see exchange of letters with Bermuda To this end, legal orders may establish a bilateral agreement on the competent authority for the implementation of the automatic exchange of information in accordance with the common standard of notification or automatic exchange of reports by country on a TIEA, especially in cases where it is not (yet) possible to automatically exchange information within the framework of a relevant multilateral agreement on the competent authority. Jurisdictions can also use the text of the articles in the model protocol if they wish to include the automatic and spontaneous exchange of information in a new TIEA. The legality of intergovernmental agreements (IGAs) has been called into question on the grounds that any agreement between governments binding each government is a treaty.
Since the U.S. Constitution does not allow the executive branch to unilaterally implement treaties without Senate approval, many argue that IGAs have no basis in the U.S. Constitution.  IGAs were not described or provided for in fatca laws, but were designed and implemented on the basis that it became clear that fatca would fail without it.  The British Virgin Islands Protocol [128kb] The Tax Information Exchange Agreement (TIEA) provides for the exchange of information on request in the context of a specific criminal or civil tax investigation or civil tax matter under investigation.  A TIEA model has been developed by the OECD Global Forum Working Group on Effective Information Exchange. This agreement, published in April 2002, is not a binding instrument, but includes two models of bilateral agreements. Many bilateral agreements are based on this agreement (see below).
(c) the provision of information that would reveal any trade, commercial, professional or commercial secrets, or any information whose disclosure would be contrary to public policy (or the public). A tieA request for information model has been developed to assist the relevant authorities of TIEA partners in requesting information. It is available in English and French as well as in Spanish, German, Italian, Japanese, Korean and Turkish. (b) to provide information that cannot be obtained under the law or in the normal course of administration of the State party concerned or the other State party concerned; the requirement text (this document can be used when applying to Guernsey) [143kb] a) to implement administrative measures contrary to the administrative laws and practices of that contracting state or the other contracting state; (b) предоставлять информацию, которую нельзя получить по законодательству или в ходе обычного администрирования этого или другого Договаривающегося Государства; © предоставлять информацию, которая раскрывала бы торговую, предпринимательскую, промышленную, коммерческую или профессиональную тайну или торговый процесс, или информацию, раскрытие которой противоречило бы государственной