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Tax agreement signed between Jersey and Turkey

25 November 2010

Assistant Chief Minister, Senator Paul Routier, has signed an Agreement for the Exchange of Information Relating to Tax Matters with the Ambassador of the Republic of Turkey, His Excellency Unal Cevikoz, in the presence of Turkey’s Finance Minister, Mr Mehmet Simsek. The signing took place at the Turkish embassy in London yesterday (24 November 2010).

The Assistant Chief Minister, who was representing Jersey’s government, was accompanied by Colin Powell, Adviser, International Affairs.

Senator Routier said “Signing a tax agreement with the Republic of Turkey, a G20 member, is further evidence of Jersey’s commitment to the global implementation of the international standards of transparency and information exchange for tax purposes. 

“Jersey, as a Vice-Chair of the Global Forum Peer Review Group, is determined to lead by example, and attaches particular importance to entering into agreements on tax information exchange with G20 members. Jersey has now signed, initialled or completed negotiations with 16 of the 19 G20 countries.”

The signing of the agreement is an important step in the development of a political and economic relationship with Turkey which is seen as a future source of business opportunities for the Island.

The agreement will come into force once the 2 governments have completed their respective domestic procedures. It is the same as those previously signed by Jersey with other countries, and provides for the exchange of information on request, which has to be formulated in accordance with the terms of the agreement.

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