Agreement for the Exchange of Information relating to tax matters between the Federal Republic of Germany and the States of Jersey.

Information about the publication of Ministerial Decisions

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demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision
providing a record of decisions and actions that will be available for examination by States Members, and Panels and Committees of the States Assembly; the public, organisations, and the media; and as a historical record and point of reference for the conduct of public affairs

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A decision made (30/10/2008) to lodge 'au Greffe' the Agreement for the Exchange of Information relating to tax matters between the Federal Republic of Germany and the States of Jersey.

Decision Reference: MD-C-2008-0028
Decision Summary Title :	Agreement for the Exchange of Information relating to Tax Matters between the Federal Republic of Germany and the States of Jersey		Date of Decision Summary:	22nd October 2008
Decision Summary Author:	Tara Murphy Policy and Research Officer		Decision Summary: Public or Exempt? (State clauses from Code of Practice booklet)	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title :	Ratification of the Agreement for the Exchange of Information Relating to Tax Matters between the Federal Republic of Germany and the States of Jersey Draft Taxation (Exchange of Information with Third Countries) (Amendment) (Jersey) Regulations 200-		Date of Written Report:	16th October 2008
Written Report Author:	Colin Powell Advisor - International Affairs		Written Report : Public or Exempt? (State clauses from Code of Practice booklet)	Public
Subject: Agreement for the Exchange of Information Relating to Tax Matters between the Federal Republic of Germany and the States of Jersey
Decision(s): The Chief Minister, acting on behalf of the Council of Ministers, agreed to lodge the Agreement for the Exchange of Information Relating to Tax Matters between the Federal Republic of Germany and the States of Jersey and also the Draft Taxation (Exchange of Information with Third Countries) (Amendment) (Jersey) Regulations 200-.
Reason(s) for Decision: Negotiations with the Federal Republic of Germany have produced agreement on the following – a tax information exchange agreement which is consistent with that signed with the United States of America in 2002 and that signed with the Kingdom of the Netherlands in 2007, both of which have been ratified by the States. an agreement on cooperation in tax matters and the avoidance of double taxation with respect to certain items of income. This agreement provides for – occupation pensions to be taxable only in the country of residence of the recipient; payments made to students for their maintenance, education and training to be free of tax; the profits of associated enterprises to be treated as if they had been independent enterprises. a Political Declaration (accompanying the Tax Agreements) which includes statements to the effect that – following the entry into force of the agreements, Germany and Jersey will continue the dialogue to examine what measures could be adopted to further enhance and broaden their political and economic relationship including the further clarification of elements of double taxation, discrimination and other undesired tax barriers and the further extension of the arrangements for information exchange; an assurance by Germany that Jersey will be fully and equally treated by the German authorities in common with other countries included in what is described as the community of nations committed to international cooperation and information exchange on tax matters; Germany recognises Jersey’s commitment to comply with the international standards of money laundering, terrorist financing and financial regulation; subject to the outcome of the IMF review, Germany will use its best endeavours to ensure that where EU Directives or Regulations include provisions referring to the position of Third Countries, particularly in relation to assessments of equivalence in compliance with EU standards and access to EU markets, Jersey will be treated as fairly and favourably as other Third Countries.
Resource Implications: There are no financial or manpower implications.
Action required: Request the Greffier of the States to lodge ‘au Greffe’ the Agreement for the Exchange of Information Relating to Tax Matters between the Federal Republic of Germany and the States of Jersey, and also the Draft Taxation (Exchange of Information with Third Countries) (Amendment) (Jersey) Regulations 200-for consideration by the States in January 2009.
Signature:		Position: Senator Frank Walker – Chief Minister
Date Signed:		Date of Decision (If different from Date Signed):