The Governments of Australia and the Marshall Islands have signed an Agreement on the Exchange of Information with Respect to Taxes. The Agreement provides for exchange of information on request in both criminal and civil tax matters.
The signing took place on 12 May 2010 in Majuro by the Marshall Islands Acting Finance Minister, Brenson Wase and Australia's Ambassador to the Federated States of Micronesia, Palau and the Marshall Islands, Susan Cox.
In addition to the TIEA, Australia and the Marshall Islands also signed an Additional Benefits Agreement (ABA). The ABA will establish an administrative mechanism to resolve transfer pricing disputes between taxpayers and the revenue authorities of Australia and the Marshall Islands and eliminate double taxation of certain income derived by retirees, government employees and students.