Tax Information Exchange Agreement Example

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  • Date: October 10, 2021
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Jersey may also exchange tax information with other countries under double taxation treaties, the multilateral convention and EU Member States under the EU Savings Tax Directive. Download Australia and Jersey Exchange of Information Agreement (size 577kb) All TIEAs in Jersey comply with international standards and largely follow the Organisation for Economic Co-operation and Development (OECD) Model Agreement on the Exchange of Information on Tax Matters. Legal systems may also choose to use the text of the articles of the Model Protocol if they wish to include in a new TIEA the provisions on the automatic and spontaneous exchange of information. In this way, jurisdictions may base a bilateral agreement on the competent authority for the purpose of introducing the automatic exchange of information in accordance with the common information standard or the automatic exchange of country reports on an TIEA, in particular where the automatic exchange of information under a relevant multilateral agreement of the competent authority is not (yet) possible. The agreement gave rise to the development of the OECD to combat harmful tax practices. The lack of an effective exchange of information is one of the key criteria for determining harmful tax practices. The agreement is the standard for an effective exchange of information within the meaning of the OECD Initiative on Harmful Tax Practices. Jersey has signed a number 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.

A TIEAs request template has been developed to assist the competent authorities of TIEA partners in requesting information. It is available in English and French as well as Spanish, German, Italian, Japanese, Korean and Turkish. To view a summary of Jersey`s international tax treaties and the progress made with countries that have not yet signed an agreement with Jersey, download the following document: They help governments enforce national tax legislation by offering them the opportunity to exchange relevant tax information upon request. Unlike double taxation treaties, TIEAs do not always eliminate double taxation of income. (b) to communicate information which is not available under the law or in the normal administration of that Contracting State or of the other; Download Australia-Jersey Agreement (366kb) Under the Model Agreement, the exchange of information takes place only on request (as opposed to the automatic or spontaneous exchange of information) and each TIEA sets out guidelines and criteria according to which the requesting party must submit its application. The requesting party may only request predictable information for the management and enforcement of its laws. It may not participate in fishing expeditions or request information that may not be relevant to the tax matters of a given taxpayer. The purpose of this Agreement is to promote international cooperation in tax matters through the exchange of information. It was developed by the OECD Global Forum Working Group on Effective Exchange of Information. Download UK and Jersey Exchange of Letters (size 60kb) Offences are generally divided into two categories: • behavioural crimes and • follow-up crimesA behavioural crime is a crime in which only prohibited behaviour must be proven….