Wednesday 06 February 2013
Guernsey's Chief Minister, Deputy Peter Harwood, has signed a Double Taxation Agreement (DTA) with Singapore's High Commissioner, HE T Jasudasen and a further two bilateral tax information agreements (TIEAs) with Brazil and Mauritius, whilst in London for a series of meetings.
Deputy Harwood commented:
"Our relationship with Singapore is of great value. I had the opportunity to meet the Singaporean Ambassador in September last year. I am delighted to be able to sign this Agreement, not only because it acts as an indicator of how seriously we treat tax transparency, but also because Singapore is an area of significance for our industry. This Agreement strengthens the economic and political ties between Guernsey and Singapore."
The TIEA with Brazil was signed with Brazil's Ambassador to the UK, HE Roberto Jaguaribe.
Deputy Peter Harwood commented:
"I am very pleased to be able to sign this Agreement with Brazil; it will ensure that the important business links that are being developed continue to grow. The TIEA has been signed at an advantageous time because these business links will only be further improved by the current Guernsey Finance visit to Brazil."
In addition, the TIEA with Mauritius was signed with the High Commissioner, HE Mr Abhimanu Kudasamy.
Deputy Peter Harwood commented:
"Guernsey has already negotiated a number of Agreements with members of the Southern African Development Community (SADC), supported by the OECD. This helps to strengthen the abilities of those developing countries to better protect their tax revenues, as well as to build economic ties. To sign an agreement with another member of SADC is an important step, particularly one such as Mauritius, a developing financial centre and the next Chair of the Commonwealth."
Director of Income Tax Rob Gray commented:
"The signing of these latest TIEA Agreements takes Guernsey's total to 40 - including 16 of the G20 members. The island's growing network of tax agreements further depicts the on-going commitment to meeting and exceeding international standards in tax transparency."
ENDS
