Bringing you live news and features since 2006 

Jersey signs tax information exchange agreement with France


Jersey’s chief minister has signed a tax information exchange agreement with France, as part of the island’s ongoing commitment that began with Jersey’s first TIEA, signed with the US i

Jersey’s chief minister has signed a tax information exchange agreement with France, as part of the island’s ongoing commitment that began with Jersey’s first TIEA, signed with the US in 2002.

Senator Terry Le Sueur (pictured) signed the TIEA with the French minister of finance, Christine Lagarde.

Senator Le Sueur says: ‘These agreements to co-operate over tax matters highlight the mutual respect between jurisdictions. Our continuing programme of signing agreements with jurisdictions across the globe demonstrates our willingness to comply with international standards of financial regulation, anti-money laundering, and combating the financing of terrorism.

‘As France has said, the signing of the TIEA allows both parties to realise their shared intention to implement the principles advocated by the OECD and to have, in the future, an effective instrument for fighting international tax fraud and evasion.

‘Last year the OECD Secretary General referred to the fact that Jersey has signed a number of Tax Information Exchange Agreements, and called for clear political recognition for those offshore financial centres that have made this kind of progress. We hope to see this reflected in the outcome of the G20 Summit in London on 2 April and that there will greater pressure put on those countries, including some OECD members, who have not yet shared Jersey’s commitment to transparency and co-operation.’

Jersey is close to signing a TIEA with Ireland and negotiations are well-advanced with Australia and New Zealand. Discussions are also underway with Spain and Italy and Jersey is more than willing to extend such agreements to all other jurisdictions, including OECD countries, when they are ready to engage.

The TIEA with France will come into force when both parties have completed their domestic procedures. In the case of Jersey this is expected to take three months but for France it is understood a somewhat longer period will be required.

Once the TIEA is implemented Jersey will be treated by France as a territory which has signed an administrative assistance agreement to fight tax fraud and evasion.

Jersey has already signed agreements with the US (2002); the Netherlands (2007); the seven Nordic countries (Denmark, the Faroes, Finland, Greenland, Iceland, Norway and Sweden in 2008); Germany (2008); and the UK (2009).

Latest News

BlackRock's iShares, an undisputed leader among European ETF issuers, pushed further ahead in Q1 with EUR173 billion in trades, triple..
European ETFs raised USD47.8 billion in Q1, a 15 per cent increase compared to the same period in 2023, according..
LSEG Lipper’s March report finds that globally equity ETFs (+EUR113.2 billion) enjoyed the highest estimated net inflows for the month,..
Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..

Related Articles

etf active trading
Latest Morningstar data shows actively managed ETFs’ share of the US ETF market rose to 8.5 per cent at the...
Kristen Mierzwa, FTSE Russell
Index Investments Group (IIG), a division within index provider FTSE Russell, has extended its range of indices through two new...
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by