Jersey Finance, which represents the Island’s Finance Industry, has today welcomed an announcement from the UK Treasury in which it calls on other jurisdictions to follow Jersey’s example in showing a firm commitment to transparency and exchange of information in tax matters.
The announcement from the Treasury follows the signing of Jersey’s fourteenth Tax Information Exchange Agreement with Australia earlier this month, part of an ongoing programme of bi-lateral agreements. More are planned.
The Treasury announcement also recognises that Jersey is committed to international standards of anti money laundering legislation and practice, counter terrorist financing legislation and financial regulation.
Geoff Cook, chief executive of Jersey Finance, commented :
‘It is gratifying that the Island is now appearing to obtain greater recognition for its efforts in meeting international standards ahead of many competitor jurisdictions. The Jersey authorities, with the support of the Industry, have been proactive in reaching these agreements, while still mindful of the importance of preserving confidentiality for legitimate investors. I believe the Island’s commitment to the process gives increasingly risk averse investment professionals greater confidence in Jersey as a place to do business.’