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Taxation Co-Operation Agreements signed with Jersey and the Isle of Man

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Thursday 24 January 2013

In London today Deputy Jonathan Le Tocq, Deputy Chief Minister, signed on behalf of the Government of Guernsey a Double Taxation Agreement with Jersey and a Double Taxation Agreement with the Isle of Man.

The Agreement was signed for Jersey by Senator Sir Philip Bailhache, Assistant Chief Minister with responsibility for External Relations, and for the Isle of Man by Eddie Teare MHK, Treasury Minister. 

Deputy Le Tocq said:

"I am very pleased to have signed these two Double Taxation Agreements, which will further reinforce the political and business relationships between the three Crown Dependencies. 

"These Agreements meet the highest current international standards, and to re-emphasise Guernsey's commitment to the highest standards of transparency and co-operation on tax information."

Director of Income Tax Rob Gray said:

"The Jersey agreement provides an update to the existing DTA, dating from the 1950s, and it, and the new agreement with the Isle of Man, establishes a basis for avoidance of double taxation involving business and other financial transactions between persons residing in all three Crown Dependencies.

"In view of the ease and frequency of transactions between all of the Crown Dependencies, having effective exchange of information provisions in place will also assist the Income Tax Office in the fight against domestic tax avoidance and evasion."    

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