UCLBS News

April 9, 2021

Gov.je Double Tax Agreement

Filed under: Uncategorized — Administrator @ 7:31 pm

“There are two very important reasons why a new DBA is needed. First, it is very important to avoid double taxation, given the relationship between the company and the close individuals between Jersey and the United Kingdom. I expect this relationship to improve if the UK withdraws from the EU. Secondly, in concluding this agreement, we underline our total commitment to compliance with international tax standards set by the OECD. On these two points, the Government of Jersey is pleased with the outcome of the negotiations on the new DBA, and I would like to pay tribute to the British tax officials for the constructive, positive and useful working relations we have enjoyed. These agreements, with the exception of the agreements with the United Kingdom and Guernsey, follow the OECD model. They all limit the double taxation of income and allow the exchange of information on demand. Download Australia and Jersey Mutual Convention Procedure (size 366kb) Double taxation agreements are agreements between two countries that are designed: A list of countries that comply with the full double taxation agreements with Jersey 12 February 1964Ex: there is also an agreement to exchange tax information with France in addition to this double taxation agreement. They also allow Jersey to exchange information with tax authorities in other countries. Jersey has about 15 full DBA with other countries and 12 partial double taxation agreements. We are negotiating with a number of other countries, which should increase. All agreements have been signed and ratified, unless otherwise stated. Any application for exemption under the Double Taxation Convention is subject to normal deadlines under Jersey and UK national law.

This agreement better reflects the original meaning of paragraph 2, paragraph 1, point f). A company that may be affected by this decision should contact the taxman, its tax advisor or hmrc. This new double taxation agreement replaces an existing 1952 agreement. Although the old agreement has worked satisfactorily for both parties, it does not meet the current standards of the OECD DBA Convention. Jersey is committed to adopting and meeting OECD standards. All Jersey TIEAs comply with international standards and largely follow the oecd`s standard agreement on the exchange of information on tax issues. In order to obtain 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: Taking advantage of the provisions of the 1952 double taxation agreement, Jersey and the United Kingdom agreed that paragraph 2, paragraph 1, point f) of this agreement includes a Tiebrebreaker residency test for companies established in both legal orders under their national tax rules.

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