Jersey Initials TIEA With Indonesia

by Amanda Banks, Tax-News.com, London

01 April 2010

The Jersey government on March 31 announced the initialing of a Tax Information Exchange Agreement with Indonesia.

Jersey delegates Colin Powell, Jersey’s adviser on international affairs and Wendy Martin, Director of International Tax, undertook negotiations on the text at the Indonesian Embassy in London, where discussions on a number of issues of common interest also took place.

Commenting after the signing, Colin Powell said that “negotiating a tax agreement with Indonesia, a G20 member, is further evidence of Jersey’s support of the global implementation of the international standards of transparency and information exchange for tax purposes. Jersey, as a Vice-Chair of the Global Forum Peer Review Group, is determined to lead by example, and attaches particular importance to entering into agreements on tax information exchange with all G20 members.”

Now that both sides have agreed to a text and initialed the agreement, Jersey anticipates that the signing of the agreement, and its entry into force, will happen promptly.

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