On 16 September 2009, International Tax Agreements Amendment Bill (No 1) 2009 was passed by the House of Representatives without amendment.
The Bill amends the International Tax Agreements Act 1953 to give legislative authority to agreements between Australia and the British Virgin Islands and the Isle of Man, in relation to the avoidance of double taxation and the prevention of fiscal evasion.
On 17 September 2009, the Bill was passed by the Senate without amendments.
The Bill awaits Royal Assent.
In a media release issued on 17 September 2009, the Assistant Treasurer, Senator Nick Sherry, welcomed the successful passage through Parliament of the Bill as yet another step in the Rudd Government's efforts to improve the transparency and integrity of the global financial and taxation system.
For a copy of the Minister's media release, No 2009/053, 17 September 2009, go here