The Government of Jersey has signed a Double Tax Agreement (DTA) with the Government of the Hong Kong Special Administrative Region of the People’s Republic of China. The Agreement was signed for Jersey by Senator Ian Gorst, Chief Minister, and for Hong Kong by Professor K C Chan, The Secretary for Financial Services and the Treasury.

Senator Ian Gorst said: “I am delighted to have signed this DTA with Hong Kong, an important financial centre with which Jersey is developing a strong business relationship. We see this Agreement as being of major assistance to our financial services industry, and to business generally, when seeking to take advantage of the many trading and investment opportunities that increasingly are to be found in the Far East, for which Hong Kong is an important gateway.”

Senator Sir Philip Bailhache, Assistant Chief Minister for External Affairs, said: “I also welcome this Agreement. I intend to visit Hong Kong later this year as part of a trip to the Far East to help promote Jersey’s political and business relationships. My hope is that my visit will encourage the business sectors to profit from the Agreement and expand their presence overseas.”

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Notes to editors:

The Agreement was signed separately in each jurisdiction.

This is the third full DTA that Jersey has signed that complies with the OECD Model Agreement. The other two DTAs with Malta and Estonia are in force.

The DTA provides for the avoidance of double taxation in respect of both corporate and personal incomes including business profits, dividends, interest, royalties, income from employment and pensions. The DTA also provides for the exchange of information on requests equivalent to that provided for in the Tax Information Exchange Agreements(TIEAs) that Jersey has signed.

For further information, contact Colin Powell, Adviser – International Affairs, Chief Minister’s Dept; tel +44 (0) 1534 440414; email: c.powell@gov.je