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. 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). The decision of the Presidency of the Republic of Turkey, published in the Official Journal of 23 November 2018, announced that the tax information exchange agreements concluded with the Isle of Man and Gibraltar in 2012 were in force. The Isle of Man has also signed a number of tax agreements on shipping and aviation revenues. From February 2020, maritime and air agreements will be concluded with Denmark, the Faroe Islands, Finland, France, Greenland, Iceland, the Netherlands, Norway, Poland and Sweden. Transit agreements with Germany and the United States of America are in effect. The Isle of Man was one of the first international financial centres to engage in the OECD`s principles of transparency and information exchange and has since taken the lead in implementing these principles. 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.  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. The full text of the tax information exchange agreements with the Isle of Man and Gibraltar can be found on the following links: in June 2015, the OECD Committee on Taxation (CFA) approved a standard protocol to 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 more information on this Bulletin, you can contact the following authorities: Courts can also use the text of the articles of the standard protocol if they wish to include the automatic and spontaneous exchange of information in a new TIEA. The aim of this agreement is to promote international cooperation in tax matters through the exchange of information.