Jersey’s Finance Industry has a continuing commitment to the principles of international cooperation, transparency and sound regulation. This commitment has been manifest in our support for the adoption of the EU Savings Directive including an eventual move to automatic information arrangements on completion of certain transitional arrangements.
It has always been the intention of the EU that the option to withhold tax on interest paid to EU savers instead of the exchanging of information on account holders’ interest would only be available to jurisdictions during a transitional phase.
Jersey Finance will be consulting within the Industry on the timing of this change while monitoring developments in other jurisdictions. The key to any measure is to ensure that it moves us closer to a global level playing field in respect of tax information exchange.
As well as signing up to the EU’s Savings Directive, Jersey is also an active participant in the OECD programme for tax information exchange. The Government has signed 14 tax information exchange agreements and more are in the pipeline.
For further information, please contact Geoff Cook, Chief Executive, Jersey Finance Limited, on tel. +44 (0) 1534 836000 or e-mail email@example.com