Jersey has signed a tax information exchange agreement (TIEA) with the Kingdom of Belgium in London on 13 March 2014.
The agreement has been signed between Jersey’s Minister of External Relations, Senator Sir Philip Bailhache and Belgian Deputy Prime Minister and Minister of Foreign Affairs Didier Reynders.
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The TIEA will enable both the governments to build trust while sharing tax information among its citizens and companies.
Through this deal, tax probes will also become transparent, enabling both nations to scrutinize the tax records and banking information of both individuals and businesses.
The agreement will come into effect upon completion of their respective domestic procedures for ratification.
Additionally, the representative of the Flemish government in London, Geert De Proost has signed on behalf of the Flemish government.
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By GlobalDataBailhache said: "While Jersey is not a part of the European Union, we are part of Europe and we have long pursued a good neighbour policy towards the Member States of the EU.
"It is also further evidence of Jersey’s full commitment to compliance with the current international standards on transparency and exchange of information for tax purposes," he added.
