Jersey Signs TIEA With Ireland

by Robin Pilgrim, Tax-News.com, London

30 March 2009

Jersey on March 26 signed a Tax Information Exchange Agreement (TIEA) with Ireland, the thirteenth TIEA for Jersey, which will enter into force upon ratification by both parties.

The agreement was signed by Senator Terry Le Sueur on behalf of Jersey and Irish Minister for Finance Brian Lenihan. In a statement after the event Le Sueur noted:

“In a joint declaration, Ireland has welcomed Jersey as a member of the community of nations committed to international cooperation and information exchange on tax matters, and has wished to assure the government of Jersey that Jersey will be fully and equally treated as such by the Irish authorities.”

“These agreements to cooperate in tax matters highlight the mutual respect between jurisdictions. Our continuing programme of signing agreements with jurisdictions across the globe demonstrates our willingness to comply with international standards of financial regulation, anti-money laundering, and combating the financing of terrorism.”

The TIEA with Ireland will come into force when both parties have completed their domestic procedures. It is likely to enter into effect on April 1, 2010, upon the enactment of Ireland’s next Finance Act.

Jersey’s release added that a Tax Information Exchange Agreement (TIEA) between Jersey and Australia is imminent and discussions with New Zealand on the signing of a similar agreement are also advanced. Jersey is also currently actively discussing two more agreements with Spain and Italy.

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