Jersey has signed a comprehensive double taxation agreement (DTA) with Malta. The agreement is the first negotiated by Jersey that incorporates the Organization for Economic Cooperation and Development (OECD) model convention on tax information exchange within the text of a double tax convention.
The DTA also represents Jersey’s sixteenth international tax agreement to meet the OECD tax standard on transparency and information exchange.
The agreement was signed at the Malta High Commission in London by Jersey’s Chief Minister, Terry Le Sueur, and the High Commissioner to the United Kingdom, Joseph Zammit Tabona, for the government of Malta.
Le Sueur said: “The signing of the DTA with Malta is a significant step. We are keen to develop our business relationships with the EU and therefore we are delighted that, through the DTA, we will be further strengthening our political and business relationship with a member state.”
“It is also further evidence of Jersey’s firm commitment to the international tax standards of transparency and information exchange, and of its willingness to continue to negotiate international tax agreements.”
Jersey is continuing to negotiate further tax agreements and is also playing an important international role as one of four Vice-Chairs of the Peer Review Group, which was set up by the Global Forum on Transparency and Exchange of Information for Tax Purposes. The group is responsible for monitoring and assessing compliance with international standards.
In an additional statement, Geoff Cook, Chief Executive of Jersey Finance, said: “We support the government’s efforts to sign tax agreements, whether in the form of a Tax Information Exchange Agreement or a Double Taxation Agreement. Both demonstrate Jersey’s commitment to meeting international tax standards of transparency and information exchange and demonstrate Jersey as being a cooperative jurisdiction within the international arena. Additionally, a DTA, which is a standard OECD agreement between countries, is designed to protect against the risk of double taxation where the same income is taxable in two states. These agreements pave the way for gaining greater market access with some EU countries and in other regions.”
.
Network Tweets Archive
| Resources | Partners
| Site Map | Links
| Newsletter
Archive | Contact
| RSS Feeds
About | Syndication |
Advertising & Marketing |
Recruitment |
Terms & Conditions |
Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
All content provided by BSI Media
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment