All agreements have been signed and ratified, unless otherwise stated. To view a summary of Jersey`s international tax treaties and progress with countries that have not yet signed an agreement with Jersey, download the document below: Download Australia and Jersey Exchange Agreement of Information Agreement (size 577kb) Jurisdictions may also choose to use the text of the articles of the model protocol if they wish to include the automatic and spontaneous exchange of information in a new TIEA. All Jersey TIEAs comply with international standards and largely follow the oecd`s standard agreement on the exchange of information on tax issues. The exchange of information on request was completed by an automatic procedure on 29 October 2014. [2] The automatic process must be based on a common reporting standard. Download the exchange of letters between the UK and Jersey (size 60kb) The agreement was born out of the OECD`s work to tackle harmful tax practices. The lack of effective exchange of information is one of the main criteria for determining harmful tax practices. The agreement is the standard for the effective exchange of information within the meaning of the OECD`s initiative on harmful tax practices. The legality of intergovernmental agreements (IGAs) has been called into question on the grounds that any agreement between governments binding each government is a treaty. Since the U.S. Constitution does not allow the executive branch to unilaterally implement treaties without Senate approval, many argue that IGAs have no basis in the U.S. Constitution. [3] IGAs were not described or provided for in fatca laws, but were designed and implemented on the basis that it became clear that fatca would fail without it.
[4] Jersey has signed a series of TIEAs based on this OECD model that allow us to send and receive tax information with more than 30 countries. This figure is expected to increase over time. Tax Information Exchange Agreements (TIEA) provide for the exchange of information on request in the context of a specific criminal or civil tax investigation or civil tax matter under investigation. [1] A TIEA model has been developed by the OECD Global Forum Working Group on Effective Information Exchange. Tax information exchange agreements (TIEA) are signed by two countries that agree to cooperate on tax matters through the exchange of information. Jersey has been exchanging information with other countries since 2007 using TIEA. This agreement, published in April 2002, is not a binding instrument, but includes two models of bilateral agreements. Many bilateral agreements are based on this agreement (see below). A tieA request for information model has been developed to assist the relevant authorities of TIEA partners in requesting information. It is available in English and French as well as in Spanish, German, Italian, Japanese, Korean and Turkish.
Jersey can also exchange tax information with other countries under the double taxation conventions, the multilateral convention and with EU member states under the EU Savings Tax Directive.