Tax-sharing exchange pact signed

The agreement allows different jurisdictions to share tax information

Jersey has agreed to share tax information with Australia.

The Tax Information Exchange Agreement (TIEA) was signed by Jersey's deputy chief minister at the Australian High Commission in London.

Philip Ozouf said the pact was further evidence of Jersey's transparency and its fight against money laundering and the financing of terrorism.

Jersey currently has 14 TIEAs and is in negotiations with Italy, New Zealand, Canada and Spain.

The States of Jersey said the aim of the agreement is to enhance and strengthen the "mutual respect and co-operation between two jurisdictions".

Signing the agreement would help to firmly establish Jersey's inclusion on the "white list" of finance centres, Mr Ozouf added.

The status refers to the most compliant centres in the world which reach internationally agreed tax standards, while a "black list" indicates tax jurisdictions which are considered to be the most secretive.

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