(c) provide information which would disclose commercial, commercial, industrial, commercial or professional secrets or commercial procedures or the disclosure of which would be contrary to public policy (public policy). In addition, Ireland has been considered to be ashore by the Cayman Islands, which may request tax information under Part IV of the Tax Information Act. In this way, income commissionaires can request information relevant to a tax investigation (including information on the ownership of banks and companies) from the Cayman Islands authorities, without the need for a bilateral TIEA. This exchange of information on request was supplemented by an automatic procedure on 29 October 2014.  The automatic process should be based on a common reporting standard. The legality of intergovernmental agreements (ISAs) has been questioned on the grounds that any agreement between governments that significantly binding any government constitutes a treaty. Since the U.S. Constitution does not allow the executive branch to unilaterally implement treaties without the consent of the Senate, many argue that GAs have no basis in the U.S. Constitution.  THE ISGs were not described or provided for in the Fatca legislation, but were designed and implemented a posteriori, when it became clear that FATCA would fail without it.
 The text of each agreement is available using the following links: In June 2015, the OECD Committee on Fiscal Affairs (CFA) approved a model protocol to the agreement. The standard protocol can be used by legal systems if they wish to extend the scope of their existing TIEAs to the automatic and/or spontaneous exchange of information. Tax Information Exchange Agreements (TIEAs) provide for the exchange of information on request concerning a criminal or civil tax investigation or civil tax matters under investigation.  A TIEA model was developed by the OECD Global Forum Working Group on Effective Exchange of Information. Legal systems may also choose to use the text of the articles of the Model Protocol if they wish to include in a new TIEA the provisions on the automatic and spontaneous exchange of information. The purpose 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 Exchange of Information. In this way, jurisdictions may base a bilateral agreement on the competent authority for the purpose of introducing the automatic exchange of information in accordance with the common information standard or the automatic exchange of country reports on an TIEA, in particular where the automatic exchange of information under a relevant multilateral agreement of the competent authority is not (yet) possible. This agreement, published in April 2002, is not a binding instrument, but includes two model bilateral agreements. A large number of bilateral agreements have been based on this agreement (see below).
Protocol of the British Virgin Islands (exchange of information) [128kb] For the automatic exchange of information, see automatic exchange of information, see exchange of letters with Bermuda (b) to provide information that is not available in accordance with the law or in the normal course of administration of that State party or the other; Ireland has also concluded TIEAs with Guernsey, the Isle of Man and Jersey. Agreements have also been concluded with these countries concerning the exemption from double taxation of certain natural persons and the introduction of mutual agreement procedures with regard to the correction of the profits of affiliated enterprises. The agreement gave rise to the development of the OECD to combat harmful tax practices. . . .