Jersey, the UK Crown Dependency, signed a bilateral tax information exchange agreement (TIEA) with the Netherlands.

Jersey, the UK Crown Dependency, signed a bilateral tax information exchange agreement with the Netherlands. Based on the OECD Model Agreement, the new treaty follows a similar agreement signed by Jersey in 2002 with the US. Jersey is one of 33 jurisdictions that have committed to work with OECD countries under the auspices of the OECD’s Global Forum on Taxation to improve transparency and to establish effective information exchange for tax purposes. It was a key player in developing these principles and has taken steps to implement them. Separately, in a communiqué issued on 19 June, finance ministers representing the Nordic economies – Denmark, Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden – announced proposals to conclude a number of tax information exchange agreements within the next few years. In addition to ongoing negotiations with Aruba, the Isle of Man, Jersey and the Netherlands Antilles, the communiqué said they are to start negotiations with Bermuda, the British Virgin Islands, the Cayman Islands and Guernsey.