According to a recent update from the Guernsey government, the tax information exchange agreement with Montserrat entered into force on 1 November 2016, and the agreement with South Korea entered into force on 21 December 2016. The agreement with Montserrat was signed 7 April 2014 and the agreement with South Korea was signed 23 September 2015. Both agreements are the first of their kind between Guernsey and the respective jurisdictions and apply for criminal tax matters on the date of their entry into force, and for other matters for taxable periods beginning on or after that date.