Japan Concludes TIEA Talks With Jersey, IOM

by Mary Swire, Tax-News.com, Hong Kong

21 March 2011

The Japanese government on March 18, announced agreements in principle with the Isle of Man and Jersey governments for the exchange of information pertaining to tax matters.

In delivering the announcement, the government said: “The government of Japan welcomes these agreements in principle which demonstrate the Isle of Man and Jersey’s commitments to preventing international fiscal evasion and tax abuse, the importance of which has been reiterated in a series of international conferences. The agreements to be concluded provides for the effective exchange of information regarding tax matters in accordance with the international standard.”

“The government is determined to contribute to the strengthening of the information exchange network aimed at the prevention of international fiscal evasion and tax abuse by concluding these agreements as early as possible.”

The agreement with Jersey provides for the exemption of tax at source for certain income of individuals such as pensions, so that exchange of people between Japan and Jersey is promoted, the government said.

The agreements will be signed after the work for the finalization of the text and the procedures by both signatory countries in each case, and will enter into force after the completion of the respective domestic ratification procedures.

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