Government welcomes Jersey tax information exchange agreement

Date: 26th June 2009

The UK government has welcomed the signing of what is Jersey's 14th tax information exchange agreement.

It has said it confirms the islands commitment to good governance of tax issues.

Stephen Timms, financial secretary of the Treasury, said he "warmly welcomed" Jersey's signing of the agreement.

He said: "Jersey's firm commitment to transparency and exchange of information in tax matters is very encouraging, and I call on others to follow their example."

A statement from HMRC, said: "Jersey is to join other Crown Dependencies and Overseas Territories as a signatory to a Tax Information Exchange Agreement with the UK.

"TIEAs play a vital role in HMRC’s drive against offshore avoidance and evasion."

So far, Jersey has signed agreements with Australia, Denmark, Faroe Isles, Finland, France, Germany, Greenland, Iceland, Ireland, Netherlands, Norway, Sweden, the UK and the United States.

The Isle of Man has also agreed to make its tax transactions more transparent.