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June 11, 2009

Jersey Finance chief on TIEA with Australia

By Spear's

Statement from Geoff Cook, chief executive, Jersey Finance, on the signing of the TIEA with Australia.

Statement from Geoff Cook, chief executive, Jersey Finance, on the signing of the TIEA with Australia:

Jersey Finance welcomes the announcement from the Island’s Government of the signing of a Tax Information Exchange Agreement (TIEA) with Australia.

The move is a further indication of the Island’s ongoing commitment to the TIEA programme and highlights Jersey’s willingness to co-operate actively and consistently in global measures to strengthen the financial services system.

Today’s agreement is the 14th signed by the Jersey Government authorities and it follows earlier bilateral agreements with many leading Western countries including the UK, USA, France, Germany, Netherlands and Ireland.

The Industry is fully supportive of these moves which help to reinforce the high standards of the Island’s financial services industry and signal Jersey’s continued commitment to global co-operation in financial markets.

We believe TIEAs set the right balance between transparency when there is a requirement to investigate criminal behaviour, whilst preserving the privacy of legitimate financial business. Further agreements are anticipated shortly.

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