Jersey breaks new ground
Saturday 30th January 2010, 3:00PM GMT.
Chief Minister Terry Le Sueur signs the agreement in London with Malta’s High Commissioners to the UK, Joseph Zammit Tabona
JERSEY has signed its first double-taxation agreement after pen was put to paper to seal a deal with Malta this week.
Chief Minister Terry Le Sueur and Malta’s High Commissioner to the UK, Joseph Zammit Tabona, signed the arrangement in London.
This is the Island’s first double-taxation treaty based on the OECD model. Such agreements are designed to protect against the risk of having the same income taxable in two states.
It also represents Jersey’s 16th international tax agreement that meets OECD standards on transparency and information exchange.
After the signing of the agreement at the Malta High Commission in London, Senator Le Sueur said: ‘The signing of the agreement with Malta is a significant step. We are keen to develop our business relationships with the EU, so we are delighted that through this double-taxation agreement we will be further strengthening our political and business relationship with a member state.’
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Congratulations. Now please can we have one with France….or at least Brittany and Normandy as long as we promise to only buy the decrepit houses the French wont touch? Will help relieve over-population and support any carrier between here and Jersey.
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according to the Malta Times:
“Foeign Minister Tonio Borg said this was the 16th double taxation agreement signed during the past 22 months”
I see everyone is getting in on the action.
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Senator Le Sueur said: ‘The signing of the agreement with Malta is a significant step. We are keen to develop our business relationships with the EU, so we are delighted that through this double-taxation agreement we will be further strengthening our political and business relationship with a member state.
Malta has only been part of the EU for a couple of years – and all of the residents i’ve spoken to in Malta say it’s the worse thing that has happened for their economy…
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