Jersey has signed a tax information exchange agreement (TIEA) with Hungary in London on 28 January 2014.
The agreement was signed at the Hungarian Embassy by Jersey’s minister for external relations, Philip Bailhache and the Hungarian ambassador, Janos Csak.
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Till date, Jersey has signed 34 TIEAs and eight double taxation agreements including 19 signed agreements (TIEA or DTA) with EU Member States.
The TIEA will come into effect upon completion of their respective domestic procedures for ratification.
Bailhache said: "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."
Geoff Cook, CEO, Jersey Finance Limited, said: "Each of the TIEA agreements which are signed with EU Member States is important in signaling Jersey’s commitment to international co-operation and also helps to foster and build on our relationship with countries in the EU."
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