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Guernsey Signs TIEAs With Switzerland And Hungary

by Jason Gorringe, Tax-News.com, London

13 September 2013


Guernsey's Chief Minister, Deputy Peter Harwood, signed Tax Information Exchange Agreements (TIEAs) with Switzerland and with Hungary in London today, according to a government press release.

Deputy Harwood commented: "Guernsey's relationship with Switzerland is of great value and we have much in common as finance centers outside of, but working with, the European Union."

He went on: "I am delighted to be able to sign this Agreement, not only because it acts as another indicator of Guernsey's commitment to tax transparency, but also because Switzerland is a country of significance for our industry. This Agreement strengthens the economic and political ties between Guernsey and Switzerland."

Dominik Furgler, the Swiss Ambassador to the UK said: "I am very pleased to sign this Tax Information Exchange Agreement with Guernsey, which will contribute to strengthening the relationship between Switzerland and Guernsey, and further demonstrates Switzerland's commitment to implementing international standards."

Guernsey's Chief Minister also signed an agreement with the Hungarian Ambassador to the UK, Janos Csak. Commenting on the agreement, Deputy Harwood said: "I am very pleased to sign this agreement with Hungary, a country which sits at the heart of the European Union and is now a long-standing member of the Organization for Economic Co-operation and Development and the World Trade Organization.

"The agreement demonstrates Guernsey's ongoing commitment to tax transparency with the member states of the EU."

Guernsey's Director of Income Tax Rob Gray noted that: "The signing of this latest TIEA Agreement takes Guernsey's total to 46 - including 16 of the G20 members. The Island's growing network of tax agreements further demonstrates the ongoing commitment to meeting and exceeding international standards in tax transparency."

TAGS: tax | tax information exchange agreement (TIEA) | Hungary | Guernsey | agreements | Switzerland | G20 | standards | Europe | Tax

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