Jersey today signed a comprehensive Double Taxation Agreement (DTA) with Malta. This is the Island’s first DTA which is based on the OECD model convention. This DTA also represents Jersey’s sixteenth international tax agreement to meet the OECD tax standards on transparency and information exchange.
The DTA was signed at the Malta High Commission in London by the Chief Minister, Senator Terry Le Sueur, for the Government of Jersey and the High Commissioner to the United Kingdom, His Excellency Joseph Zammit Tabona, for the Government of Malta.
Senator Le Sueur said “the signing of the DTA with Malta is a significant step. We are keen to develop our business relationships with the EU and therefore we are delighted that through the DTA we will be further strengthening our political and business relationship with a Member State.
“It is also further evidence of Jersey’s firm commitment to the international tax standards of transparency and information exchange, and of its willingness to continue to negotiate international tax agreements.”
Jersey is continuing to negotiate further tax agreements and is also playing an important international role as one of four Vice-Chairs of the Peer Review Group, which was set up by the Global Forum on Transparency and Exchange of Information for Tax Purposes. The group is responsible for monitoring and assessing compliance with international standards.
Notes to Editors:
For further technical information, please contact Colin Powell on 01534 440414
For interviews please contact Senator Terry Le Sueur on 01534 440585
• A DTA is the standard OECD agreement between countries to remove double taxation obstacles for the development of economic relations, and so facilitate exchange of goods and services and movements of capital, technology and people. It also delivers the OECD agreed international standard on tax transparency and exchange of information and prevents fiscal evasion with respect to taxes on income;
• Jersey is keen to sign further DTAs, while at the same time also being actively engaged in negotiating tax information exchange agreements (TIEAs) often as a first step in the development of a political and economic relationship with the countries concerned;
• Jersey has signed fifteen TIEAs to-date, all of which meet the OECD tax standards on transparency and information exchange. All but three are in force. For those three – France, Ireland and New Zealand – it is expected that the countries concerned will follow Jersey and complete their domestic procedures for the ratification of the TIEA in the next few months. TIEAs have been initialled with Mexico and Italy, and Jersey is waiting on these two jurisdictions to propose a date for a signing ceremony. TIEA negotiations are also well advanced with Canada, China, India, Japan, Spain and South Africa
. DTA negotiations are underway with Belgium and Estonia. Correspondence has also been entered into with Poland and Portugal and a number of other EU and OECD Member States.