Jersey Signs Tax Pact With China

by Jason Gorringe, Tax-News.com, London

02 November 2010

The promotional agency on behalf of Jersey's financial services industry, Jersey Finance has lauded the latest signing of a landmark Tax Information Exchange Agreement (TIEA) with China, which is set to boost bilateral relations at a time when Jersey is striving to achieve economic synergies.

Welcoming the agreement, Jersey Finance said:

“This is an important step in the growing relationship between Jersey and the authorities and regulators of China.”

“Recent visits to the region have demonstrated that the Chinese authorities value corporate governance and seek to do business with jurisdictions which are recognized internationally for having a robust and respected regulatory regime. Jersey's strong track record in this respect has assisted in negotiating this agreement with the authorities in China.”

“[The signing of a TIEA with China] raises the profile of Jersey as an international finance centre in the region, especially following the recent announcement enabling Jersey companies to list on the Hong Kong Stock exchange. It will also assist in Jersey’s ability to attract new business from centres such as Beijing, Shanghai and also in Hong Kong where the Jersey Finance representative office is located.”

Chief Executive of Jersey Finance Geoff Cook added:

“[The TIEA] adds weight to Jersey's reputation as a transparent, rigorously supervised, highly regarded jurisdiction and demonstrates how China views the quality and robust nature of Jersey. Today's announcement adds to the already significant network of Jersey’s TIEAs with other countries around the world.”

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