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Jersey Signs TIEA With South Africa

by Jason Gorringe, Tax-News.com, London

22 July 2011


Jersey's Assistant Chief Minister and UK and International Relations Minister, Freddie Cohen has announced the signing of a tax information exchange agreement with South Africa.

The signing took place at the South African Embassy in London, in the presence of Deputy High Commissioner, Bongiwe Qwabe.

Cohen commented: “The signing of a tax information exchange agreement with South Africa is of particular significance, not only because South Africa is a G20 member country but because business links between Jersey and South Africa are already strong and we believe they will be further strengthened by this agreement.”

Jersey has sought to sign tax information exchange agreements with every one of the nineteen G20 member jurisdictions (the twentieth member being the European Union). To date, eleven tax information exchange agreements have been signed with G20 members and six more are close to being signed.

This is the 23rd tax information exchange agreement to be signed for Jersey and will come into force once Jersey and the Republic of South Africa have completed their domestic procedures.

The tax information exchange agreement is the same as those previously signed by Jersey with other countries and provides for the exchange of information on request.

TAGS: South Africa | tax | tax information exchange agreement (TIEA) | international financial centres (IFC) | Jersey | agreements | G20 | Africa

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