Tax Information Exchange Agreement
An agreement concluded between the U.S. and a beneficiary country designated pursuant to the Caribbean Basin Economic Recovery Act of 1983. This agreement generally involves an expanded version of the standard exchange of information article usually included in a bilateral income tax treaty. The U.S. has similar agreements with most major trading partners. Like the standard tax treaty exchange of information article, a TIEA imposes on the agreeing countries a mutual and reciprocal obligation to exchange information relating to the enforcement of their respective tax laws.