Jersey will sign a tax information exchange agreement (TIEA) with the Italian Republic tomorrow (13 March 2012). The agreement will be signed at the Italian Embassy in London by Assistant Chief Minister with responsibility for external affairs, Senator Sir Philip Bailhache, and His Excellency Alain Giorgio Maria Economides, Italy’s Ambassador to the UK.

Senator Bailhache said: “I am delighted to have the opportunity to sign this TIEA with Italy, which is an EU, OECD and G20 member. We attach great importance to maintaining a good relationship with all the EU Member States and we see this agreement as a significant further strengthening of that relationship. We have been pressing the Italian authorities to sign the TIEA for some time and we look forward to working closely with them on the implementation of the agreement. We hope to extend this relationship to other matters of mutual interest and to this end I have extended an invitation to the Ambassador to visit Jersey at an early date.”

Senator Bailhache added: “Our objective is to have tax agreements providing for information exchange to the international standard with all 27 EU Member States and we are delighted that we now have 14 agreements signed and negotiations with a further 11 well advanced.”