20 January 2016
Jersey has signed a joint declaration with Switzerland on the introduction of the automatic exchange of information (AEOI) in tax matters on a reciprocal basis.
The Minister for External Relations, Senator Sir Philip Bailhache, signed the declaration in London with the Swiss Ambassador to the United Kingdom, HE Dominik Furgler, on Friday the 15 January 2016.
Identical declarations have been signed with Switzerland by Guernsey and the Isle of Man. The declaration reflects the firm commitment by the Swiss and the governments of the Crown Dependencies to the collection and exchange of information in tax matters in accordance with the global AEOI standard (“the Common Reporting Standard”).
The first exchange of information between Jersey and Switzerland on a reciprocal basis will occur in 2018. The declaration specifies that each jurisdiction is satisfied with the confidentiality rules provided for in the other jurisdiction with regard to tax.
Senator Bailhache said “The signing of the declaration reflects the close economic ties that exist between Switzerland and Jersey and our common commitment to compliance with the international standards on transparency and information exchange in tax matters.”