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Draft Taxation (Implementation) (International Tax Compliance) (Common Reporting Standard) (Jersey) Regulations 201-

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

An accurate record of “Ministerial Decisions” is vital to effective governance, including:

  • 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

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made 2 October 2015:

Decision Reference:   MD-ER-2015-0050

Decision Summary Title :

Implementation of the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information to improve international tax compliance based on the Common Reporting Standard for the Automatic Exchange of Financial Information approved by the Organisation for Economic Cooperation and Development

Date of Decision Summary:

1 October  2015

Decision Summary Author:

External Relations

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title :

Taxation (Implementation) (International Tax Compliance) (Common Reporting Standard) (Jersey) Regulations 201 -

Date of Written Report:

1 October 2015

Written Report Author:

Adviser – International Affairs

Written Report :

Public or Exempt?

Public

Subject:  Implementation of the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information to improve international tax compliance based on the Common Reporting Standard for the Automatic Exchange of Financial Information approved by the Organisation for Economic Cooperation and Development.

Decision(s): 

The Minister for External Relations approved for lodging au Greffe the Taxation (Implementation) (International Tax Compliance) (Common Reporting Standard) (Jersey) Regulations 201 -  in conjunction with a report and proposition inviting the States to ratify the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information to improve international tax compliance based on the Common Reporting Standard for the Automatic Exchange of Financial Information approved by the Organisation for Economic Cooperation and Development

Reason(s) for Decision:  The Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information to improve international tax compliance based on the Common Reporting Standard for the Automatic Exchange of Financial Information approved by the Organisation for Economic Cooperation and Development was signed in Berlin on the 29th October 2014. The Agreement is now being presented to the States for ratification, following which it will be published and entered into the official record. The Taxation (Implementation) (International Tax Compliance) (Common Reporting Standard) (Jersey) Regulations 201 - will give effect to the Agreement.

Resource Implications:  

There will be implications for the financial and manpower resources of the States arising from the ratification and implementation of the MCAA. The current best estimate is an annual running cost of £110,000 and one additional full time member of staff in the Taxes Office.

 

Action required:

The Greffier of the States is requested to lodge “au Greffe” the Regulations cited above with a view to securing the earliest possible date for debate following the ratification of the Agreement.

Signature: 

 

 

 

Position: 

Chief Minister

Date Signed: 2 October 2015

 

Date of Decision (If different from Date Signed):

 

 

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