24 January 2013
In London today (24 January 2013) the Assistant Chief Minister with responsibility for External Relations, Senator Sir Philip Bailhache, signed double taxation agreements with Guernsey and the Isle of Man, on behalf of the Government of Jersey.
The agreement was signed for Guernsey by Deputy Chief Minister, Deputy Jonathan Le Tocq, and for the Isle of Man by Treasury Minister, Eddie Teare MHK.
Senator Bailhache said “I am delighted to have signed these two double taxation agreements, which will further strengthen our close political and business relationships with our fellow Crown Dependencies.
“Jersey is keen to enter into such agreements, which meet the current international standards, and it is most fitting that we are now adding agreements with Guernsey and the Isle of Man to the five double taxation agreements we have already signed.”
The agreements are in accordance with the OECD Model Double Taxation Convention. They provide for the avoidance of double taxation on both corporate and personal incomes including business profits, dividends, interest, royalties, income from employment and pensions.
The agreements also provide for the exchange of information on request, equivalent to that provided for in the tax information exchange agreements that Jersey has signed.
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