Czech tax agreement signed

13 July 2011

Jersey's Assistant Chief Minister, UK and International Relations, Senator Freddie Cohen, has signed a tax information exchange agreement with His Excellency, Mr Michael Zantovsky, Ambassador of the Czech Republic to the United Kingdom.

The signing took place at the Embassy of the Czech Republic in London.

Senator Cohen said “This is the first tax information exchange agreement I have had the honour to sign, and it is another step forward in Jersey’s programme of entering into bilateral tax agreements with all European Union and G20 member countries. We are fully committed to compliance with current international standards and we will continue to lead by example. We have now signed 22 of these agreements, which brings us to a total of 18 bilateral tax agreements either signed or prepared for signing with European Union Member States.”

The tax information exchange agreement will come into force once Jersey and the Czech Republic have completed their domestic procedures. In the case of Jersey, these procedures include the ratification of the agreement by the States of Jersey.

The tax information exchange agreement is the same as those previously signed by Jersey with other countries, and provides for the exchange of information on request, which request has to be formulated in writing in accordance with the terms of the agreement.