UK welcomes Tax Information Exchange Agreements signed by Jersey
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Issued 26 June 2009
The United Kingdom welcomes Jersey’s progress in signing Tax Information
Exchange Agreements, which strengthen its reputation as a jurisdiction committed
to good governance in tax matters. Noting that Jersey recently concluded its
fourteenth agreement, Financial Secretary to the Treasury, Stephen Timms, said:
"I warmly welcome Jersey’s continuing progress in concluding Tax Information
Exchange Agreements. Jersey’s firm commitment to transparency and exchange of
information in tax matters is very encouraging, and I call on others to follow
their example”.
The United Kingdom also recognises that Jersey is committed to international
standards of anti-money laundering legislation and practice, counter terrorist
financing legislation and financial regulation, and that Jersey participates in
international efforts to combat financial crimes.
Notes
1. Jersey has signed Tax Information Exchange Agreements with the following
jurisdictions: Australia, Denmark, Faroe Isles, Finland, France, Germany,
Greenland, Iceland, Ireland, Netherlands, Norway, Sweden, United Kingdom, United
States.
2. Tax Information Exchange Agreements (TIEAs) allow governments to enforce
their domestic tax laws by exchanging, on request, information relevant for tax
assessment and compliance purposes. They are based on principles of
transparency and exchange of information developed by the OECD and endorsed by
the G20.
3. In its progress report on the implementation of the internationally agreed
tax standard, issued in conjunction with the G20 London Summit of 2 April, the
OECD listed Jersey as a jurisdiction that has substantially implemented the
internationally agreed standard.
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