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Tax Information Exchange Agreements

February 2011 - Tax & Private Client. Legal Developments by Bedell Cristin.

Tax Information Exchange Agreements ("TIEAs") are agreements which allow governments to exchange information relevant to their domestic tax laws.

Entering into TIEAs evidences the mutual respect between jurisdictions relating to tax matters and demonstrates willingness to comply with international standards of financial regulation, anti-money laundering and combating the financing of terrorism.

As at 13 January 2011, Jersey has concluded 20 TIEAs with Australia, Canada, China, Denmark, Faroe Isles, Finland, France, Germany, Greenland, Iceland, Ireland, the Netherlands, New Zealand, Mexico, Norway, Portugal, Sweden, Turkey, the United Kingdom and the United States of America. The Taxation (Exchange of Information with Third Countries) (Jersey) Regulations 2008 (the "2008 Regulations") set out how each TIEA will operate.

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Tax Information Exchange Agreements