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January 31, 2013updated 04 Apr 2017 3:29pm

Jersey signs tax agreement with Brazil, Latvia

Jersey has signed tax information exchange agreements (TIEAs) with Latvia and Brazil.

By Verdict Staff

Jersey’s signatory for both agreements was the assistant chief minister with responsibility for external relations, Senator Sir Philip Bailhache.

While the Latvian agreement was signed at the Latvian Embassy in London by the Latvian Ambassador, Eduards Stiprais, the Brazilian agreement was signed at the Brazilian Embassy in London by the Brazilian Ambassador, Roberto Jaguaribe.

The agreements conform to the OECD standards and will facilitate the exchange of tax information on request.

Commenting on the move, Jersey Finance chief executive Geoff Cook said: "Jersey has now signed 31 Tax Information Exchange Agreements in total, a significant proportion of those with EU and G20 nations."

"Not only is that beneficial in terms of building good quality business with those countries, it is also a reflection of Jersey’s genuine desire to comply with international standards and cooperate fully with the EU and G20 – particularly pertinent given the UK’s presidency of the G20 this year," he added.

With these latest additions, Jersey has signed tax agreements with 17 G20 countries.

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