Jersey Finance Welcomes New Tax Pacts

by Jason Gorringe, Tax-News.com, London

13 December 2011

Jersey Finance, the promotional agency for the island’s financial services industry, has welcomed the signing of two tax cooperation agreements with Japan and Poland and the commencement of negotiations with Hong Kong towards a double tax avoidance pact.

Two newly-signed tax information exchange agreements with Japan and Poland bring the number of treaties signed by Jersey with G20 nations to 14. Negotiations with a further three nations have been completed and texts are ready to be signed. Jersey has also signed tax information exchange pacts with 13 member states of the European Union (classified as one of the G20), with many more agreements in the pipeline.

Jersey has also announced that it has received confirmation from authorities in Hong Kong that the two countries will commence negotiations towards an agreement to eliminate double taxation on bilateral trade and investment, a first between Hong Kong and a Crown Dependency.

Commenting, Geoff Cook, Jersey Finance’s Chief Executive, said: “We welcome the Jersey authorities taking active steps to sign further tax exchange agreements and to negotiate a double taxation agreement with Hong Kong since they serve to further enhance Jersey’s reputation as a well-regulated jurisdiction which is committed to international co-operation.”

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