Jersey Finance Sign Double Taxation Agreement with Malta

Jersey News, 26 January 2010 – Jersey Finance has welcomed the signing of the Double Taxation Agreement with Malta. Geoff Cook, Chief Executive, commented:

“We support the Government’s efforts to sign tax agreements, whether in the form of a Tax Information Exchange Agreement or a Double Taxation Agreement. Both demonstrate Jersey’s commitment to meeting international tax standards of transparency and information exchange and demonstrate Jersey as being a co-operative jurisdiction within the international arena.  Additionally, a DTA, which is a standard OECD agreement between countries, is designed to protect against the risk of double taxation where the same income is taxable in two states.

“Jersey Finance welcomes the Malta agreement wholeheartedly and notes that further tax information exchange agreements are in progress which will undoubtedly further reinforce Jersey’s reputation for international co-operation on fiscal matters.   These agreements also help pave the way in gaining greater market access, particularly important for Jersey’s finance industry, with some EU countries and in other regions where we are seeking to secure new business.”

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