02 December 2014
Jersey and Romania signed a tax information exchange agreement (TIEA) at the Romanian Embassy in London yesterday (1 December 2014). The agreement was signed by the Minister for External Relations, Senator Sir Philip Bailhache, and the Romanian Ambassador, His Excellency Ion Jinga.
Senator Bailhache said “We attach great importance to the signing of this TIEA with Romania. While Jersey is not a part of the European Union, we are part of Europe and we have long pursued a good neighbour policy towards the Member States of the EU. It is also further evidence of Jersey’s full commitment to compliance with the current international standards on transparency and exchange of information for tax purposes.
“The signing of the agreement is a further strengthening of the relationship between Jersey and Romania. Both are members of the Early Adopters Group for the implementation of the new global standard on automatic exchange of information and both are party to the Multilateral Convention on Mutual Administrative Assistance in Tax Matters. The Island also has an important Romanian community which makes a valuable contribution to our economy.”
The tax information exchange agreement will come into force once the parties have completed their respective domestic procedures for ratification.
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