Tax Information Agreement with UK

09 March 2009

Jersey is due to sign a Tax Information Exchange Agreement with the UK tomorrow (10 March), as part of an ongoing commitment that began with Jersey’s first TIEA, signed with the USA in 2002. These agreements highlight the mutual respect and co-operation between jurisdictions.

Tax Information Exchange Agreements

The Chief Minister, Senator Terry Le Sueur, is travelling to London to sign the UK TIEA with the Financial Secretary to the Treasury, Stephen Timms.  Senator Le Sueur says: “Our continuing programme of signing agreements with jurisdictions across the globe confirms our commitment to the OECD standards of tax information exchange, and demonstrates our willingness to comply with international standards of financial regulation, anti-money laundering, and combating the financing of terrorism.

Stephen Timms website

“We are particularly pleased to have Jersey recognised by the UK as a member of the community of jurisdictions committed to international co-operation and information exchange on tax matters, and to have their assurance that Jersey will be treated as such by the UK authorities.

“Last year the OECD Secretary General referred to the fact that Jersey has signed a number of Tax Information Exchange Agreements, and called for clear political recognition for those offshore financial centres that have made this kind of progress. We hope to see this reflected in the outcome of the G20 Summit in London on April 2nd and that there will greater pressure put on those countries, including some OECD members, who have not yet shared Jersey’s commitment to transparency and co-operation.”

The agreement is due to be signed tomorrow (10 March 2009). It will need to be ratified by the UK and Jersey governments before it comes into force officially.

Jersey is due to sign a TIEA with France later this week, and subsequently with Ireland. Negotiations are well-advanced with Australia and New Zealand. Discussions are also underway with Spain and Italy and Jersey is more than willing to extend such agreements to all other jurisdictions, including OECD countries, when they are ready to engage.


Notes to Editors:

For more information please contact Colin Powell Adviser-International Affairs on 44 (0) 1534 440414 or 07797 750 734; or Senator Terry Le Sueur on 07797 718798.

Jersey has already signed TIEAs with the USA (2002); the Netherlands (2007): the seven Nordic countries (Denmark, the Faroes, Finland, Greenland, Iceland, Norway and Sweden – in 2008) and Germany (2008).