Welcome for tax pact with France

Friday 27th March 2009, 3:00PM GMT.

DSC_1718a THE Tax Information Exchange Agreement sealed this week between Jersey and France is expected to open doors to new business for the Island.

The agreement includes a real estate concession which means that the three per cent annual charge will no longer apply to corporate structures with property in France.

In recent months France has been one of the strongest critics of tax haven economies. The TIEA has been welcomed by Jersey Finance as ‘another major step forward’.

Jersey’s Chief Minister, Terry Le Sueur, did not travel to Paris, but signed the documents remotely. The French signatory is minister of finance Christine Lagarde.

Geoff Cook, chief executive of Jersey Finance, said that the agreement reinforced Jersey’s commitment to co-operate with OECD countries and comply with international standards.

• Picture: Geoff Cook

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1
RedRum

March 27, 2009 at 3:25 pm

If so great why not done many years ago? Silly question really.

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2
phil

March 27, 2009 at 4:19 pm

Great news…so the new financial centre may be worth building after all.

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3
c

March 27, 2009 at 5:31 pm

I sincerely hope that Chief Minister asked the Law Officers’ to explain to him what he was signing.

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4
David

March 30, 2009 at 7:40 am

We don’t even do business with France so yer, sign them all, it will make no difference!

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