Jersey´s Tax Information Exchange Agreements

A Tax Information Exchange Agreement ("TIEA") is an agreement concluded between two countries to promote international co-operation in tax matters by imposing on them a mutual and reciprocal obligation to exchange information about enforcement of their respective tax laws. The lack of effective exchange of information has been identified as a key criterion in determining whether a country has harmful tax practices.

The OECD's Initiative

As a result of a global Organisation for Economic Co-operation and Development ("OECD") forum to consider ways to address harmful tax practices, Jersey entered letters of political commitment with the OECD in February 2002 supporting the initiative and adopting the OECD's principles of exchange of information and transparency. It did so subject to the condition that all OECD Member States made the same kind of commitment so as to establish a "level playing field".