Jersey: Jersey Finance Welcomes Tax Agreement With Romania

Jersey Finance has welcomed the signing of a Tax Information Exchange Agreement (TIEA) between Jersey and Romania this week.

The agreement, which was signed by the Minister for External Relations, Senator Sir Philip Bailhache, and the Romanian Ambassador, His Excellency Ion Jinga, at the Romanian Embassy in London on Monday (1st December 2014) means Jersey has now signed a total of 44 international tax agreements, including TIEAs and Double Taxation Agreements (DTAs).

This TIEA follows the signing of a multilateral agreement between an ‘Early Adopters Group’ of 51 countries, including Jersey and Romania, in Berlin in October that signalled a shared commitment to a global standard on automatic exchange of information. Jersey and Romania are also signatories to the Multilateral Convention on Mutual Administrative Assistance in Tax Matters.

Geoff Cook, CEO, Jersey Finance Limited, commented:

“This latest agreement is part of an ongoing programme for Jersey and is a further positive development as far as Jersey’s relationship both with Romania and the EU as a whole is concerned. This is the 21st TIEA signed with an EU country and reinforces Jersey’s position as a transparent and well regulated finance centre and its commitment to cooperation in tackling tax evasion on the European and wider international stage.”