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Jersey ratifies new tax agreement

26 January 09 11:10 GMT

Jersey has ratified a new tax information-sharing pact with Germany.

The Tax Information Exchange Agreement (TIEA) aims to strengthen the "mutual respect and co-operation between the two jurisdictions," the States said.

It was signed in Berlin last July and will officially come into force once it has been ratified by Germany in March or April.

The TIEA will involve Jersey and Germany sharing information on tax-related matters when it is requested.

Economic relationship

The Chief Minister, Senator Terry Le Sueur, said: "I am particularly pleased at this public recognition of Jersey's commitment to international cooperation and information exchange on tax matters, and to complying with international standards of financial regulation, anti-money laundering, and combating the financing of terrorism."

The States said the two countries would explore other measures to "enhance and broaden the political and economic relationship."

Jersey already has tax agreements with the USA, the Netherlands and the seven Nordic countries.

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