Jersey Finance has welcomed the signing of a Double Taxation Agreement (DTA) between the authorities in Jersey and Luxembourg.
Geoff Cook, CEO, Jersey Finance said:
The DTA with Luxembourg is a welcome addition, there are strong commercial links between some firms in Jersey and those in Luxembourg and the agreement will therefore help to facilitate further business flows between the two jurisdictions, whilst once again demonstrating our commitment to international standards of information exchange through engagement at a political and regulatory level with countries in the EU.’
The agreement was signed this week (April 17) in London at the Embassy of the Grand Duchy of Luxembourg in London by the Assistant Chief Minister with responsibility for External Relations, Senator Sir Philip Bailhache, for the Government of Jersey, and by the Charge d’Affaires, Mrs Beatrice Kirsch, for the Government of the Grand Duchy of Luxembourg.
The Luxembourg agreement is the 39th international tax agreement* signed by Jersey that meets the OECD tax standard on transparency and information exchange.
* The DTA with Luxembourg is the eighth full DTA that Jersey has signed that complies with the OECD Model Agreement. The other seven DTAs in force are with Singapore, Malta, Estonia, Qatar, Hong Kong, Guernsey and the Isle of Man. The other 31 agreements are Tax Information Exchange Agreements.