The Government of Jersey today (17 October 2012) signed a Double Tax Agreement (DTA) with the Government of the Republic of Singapore at their High Commission in London. The agreement was signed for Jersey by Assistant Chief Minister, Senator Sir Philip Bailhache, and for Singapore by High Commissioner, HE Mr T Jasudasen.

Senator Bailhache said: “I am delighted to have signed this DTA with Singapore, an important financial centre with which Jersey has many interests in common. We see this agreement as being of major assistance to our financial services industry, and to business generally. It will help our people to take advantage of the many trading and investment opportunities that increasingly are to be found in the Far East, for which Singapore is an important gateway.”

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Notes to editors:

This is the fifth full DTA that Jersey has signed that complies with the OECD Model Agreement. The other DTAs are with Estonia, Hong Kong China, Malta and Qatar.

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 request 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