Jersey signs TIEA agreement with the UK

HMRevenue & Customs has signed a tax-information sharing agreement with
Jersey, a move which has paved the way for further talks to update existing
arrangements aimed at avoiding double taxation.

Yesterday, Stephen Timms MP, Financial Secretary to the Treasury, exchanged
letters of agreement with Senator Terry Le Sueur, Jersey’s Chief Minister.

This step has been taken to beef up enforcement and tax collection efforts,
the investigation of tax matters and also the prosecution of criminal tax cases.

‘With a view to further enhancing the level of cooperation between the United
Kingdom and Jersey, I have the honour to propose that, as soon as possible,
following the entry into force of the Agreement and the 1952 Arrangement, the
Governments of Jersey and the United Kingdom will resume negotiations with a
view to further modernising the existing bilateral arrangements for the
avoidance of double taxation,’ Timms added.

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