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Double taxation treaties are agreements between two countries: Hong Kong China and Jersey Double taxation conventions These agreements, with the exception of those concluded with Great Britain and Guernsey, follow the OECD model. They all make it possible to limit the double taxation of income and to exchange information on request. In addition to a temporary agreement with France, Jersey has just concluded tax agreements with 15 countries and territories. These are shown in the table below, as well as the year of entry into force of the most recent treaty between the two areas. However, in response to growing demands from the OECD and its member governments for greater tax transparency, Jersey is working to promote the image of a prestigious international financial centre and has begun to sign more tax treaties, tax information exchange and other international agreements. There are also mutual agreement procedures in which a taxpayer considers that the actions of one or both territories give rise to a tax result that does not comply with the DBA. The tax authorities will endeavour to resolve this issue through mutual agreement and consultation. In the absence of such an agreement, the taxable person may request that the case be submitted to arbitration, the outcome of which would be binding on both territories. Last Monday, representatives of the governments of Jersey, Guernsey and the Isle of Man signed the new agreements that significantly improve and modernise the Crown Dependencies` DTAs with Britain. These DTAs comply with new international tax standards, which are largely in line with the OECD Model Tax Agreement, and cover several of the Base Erosion and Profit Shifting (beps) measures. “While the previous double taxation treaty with the UK has provided good services to both parties for more than 60 years, it was important to negotiate a new agreement reflecting changes in international taxation since the 1950s and the island`s obligation to comply with international tax standards, including the most recent BEPS standards.

By the OECD. For many years, Jersey did not enter into tax treaties for political reasons. Prior to 2010, the territory`s only comprehensive double taxation treaties with the United Kingdom and Guernsey existed. This new double taxation convention (DBA) replaces an existing 1952 convention. While the old agreement worked satisfactorily for both parties, it is not compatible with the current OECD DBA standard. Jersey is committed to adopting and complying with key OECD standards. A list of countries that have full double taxation agreements with Jersey “There are two very important reasons why a new DBA is needed. Firstly, the prevention of double taxation is very important given the close business and individual relations between Jersey and the United Kingdom. . . .

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