Ratification of the Agreement for the exchange of information relating to tax matters between the Government of Jersey and the Government of the Republic of the United Mexican States.

STATES OF JERSEY

RATIFICATION OF THE AGREEMENT FOR THE EXCHANGE OF INFORMATION RELATING TO TAX MATTERS BETWEEN THE GOVERNMENT OF JERSEY AND THE GOVERNMENT OF THE REPUBLIC OF THE UNITED MEXICAN STATES

Lodged au Greffe on 23rd December 2010 by the Chief Minister

STATES GREFFE

2010   Price code: C  P.196

PROPOSITION

THE STATES are asked to decide whether they are of opinion

to ratify the Agreement for the exchange of information relating to tax matters between  the  Government  of  Jersey  and  the  Government  of  the  United Mexican States as set out in the Appendix to the Report of the Chief Minister dated 16th December 2010.

CHIEF MINISTER

REPORT

Agreement to be entered into with the United Mexican States for the exchange of information relating to tax matters

1. The States are asked to ratify the signed Agreement to be entered into with the United Mexican States for the exchange of information relating to tax matters attached as an appendix to this report.

Background

2. In February 2002 Jersey entered into a political commitment to support the OECD's tax initiative on transparency and information exchange through the negotiation of tax information exchange agreements with each of the OECD Member States.
3. In April 2009, following the G20 Summit in London, the OECD published a progress report on the jurisdictions implementing the internationally agreed tax standards of transparency and information exchange. Jersey was included in  the  list  of  jurisdictions  that  have  substantially  implemented  the internationally agreed tax standard – what has become known as the "white list" – alongside countries such as the United Kingdom, the United States, Jersey, France, Japan etc.
4. Since April 2009, subsequent G20 Summits have encouraged further progress in  agreeing,  implementing  and  abiding  by  the  necessary  international agreements. Since early 2009, over 500 agreements have been signed, where previously only some 45 agreements had been entered into that complied with the current internationally agreed tax standards.
5. To be included on the OECD "white list" in April 2009 Jersey needed to have signed  12  tax  information  exchange  agreements  (TIEAs)  that  met  the international standards. Since that date further agreements have been signed or have been negotiated to the point where they are ready for signing. The latest position in respect of the overall programme of TIEA negotiations is attached as an Appendix to this report.
6. In  September  2009  the  Global  Forum  on  Transparency  and  Information Exchange  for  Tax  Purposes,  a  body  of  which  over  90  jurisdictions  are members, established a peer review process to assess compliance with the international standards. To oversee this process a Peer Review Group has been set up chaired by France with 4 Vice-Chairs from India, Japan, Singapore and Jersey.
7. The Peer Review process is made up of 2 phases. Phase 1 is concerned with an  assessment  of  the  Laws  and  Regulations  in  place,  and  involves  an assessment of whether these are sufficient to meet the international standards. All of the Global Forum members will be assessed in this respect over a 3 year period  from  March  2010.  Phase  2  is  concerned  with  assessing  the effectiveness  with  which  the  standards  are  being  applied.  A  number  of countries, of which Jersey is one, have volunteered to be assessed for both Phase 1 and Phase 2 within the first 3 year period. An onsite visit took place at the  beginning  of  June  with  assessors  from  the  Global  Forum  Secretariat,

Denmark and Bermuda, and a draft report on the assessment was considered by the Peer Review Group at the end of November. The draft report, which remains confidential, will be considered by the Global Forum at its meeting at the end of May 2011, and if adopted it will then be published.

The Agreement with the United Mexican States

8. The  tax  information  exchange  agreement  entered  into  with  the  United Mexican States is a continuation of the ongoing programme of signing TIEAs or DTAs with all OECD and G20 member countries.
9. Attached as an Appendix to this report is –

1. The tax information exchange agreement which is consistent with agreements signed previously with other countries.

The  agreement  provides  for  the  exchange  of  information  on  tax matters on request. However that request has to be formulated in writing  in  the  greatest  detail  possible.  There  can  be  no  "fishing expeditions". The agreement will come into force once the parties to the agreement have ratified it, and any necessary legislative steps have been taken.

2. A memorandum of understanding which refers to the allocation of costs.

10. In the negotiation of all the TIEAs signed and ratified to-date the Council of Ministers has had regard for the views of industry which are very supportive of  the  programme  of  TIEA/DTA  negotiations  in  which  the  Council  of Ministers is engaged. The Agreement with the United Mexican States is an important step in the development of an economic relationship with the United States  of  Mexico  that  is  seen  by  industry  as  a  future  source  of business opportunities for the Island.

Procedure for Signing and Ratifying the TIEA

11. The Agreement with the United Mexican States was signed by the Chief Minister  on  12th  November  2010  in  accordance  with  the  provisions  of Article 18(2) of the States of Jersey Law 2005 and para 1.8.5 of the Strategic Plan 2006 – 2011 adopted by the States on 28th June 2006. The agreement is now being presented to the States for ratification following which it will be published, entered into the official record and Regulations will be made for the  Agreement  to  enter  into  force  when  the  domestic  procedures  of  both parties have been completed.
12. The States on the 29th January 2008 adopted the Taxation (Exchange of Information with Third Countries) (Jersey) Regulations 2008. The Schedule to these Regulations lists the third countries, and includes the taxes covered by the agreements being entered into. As further agreements are entered into, the Regulations need to be amended to include in the schedule the jurisdiction and the taxes concerned. The necessary Regulations to provide for the inclusion in the schedule of the United Mexican States and the relevant taxes will be

presented  to  the  States  for  adoption  in  due  course  subsequent  to  the ratification of the Agreement.

13. The  ongoing  programme  of  negotiating  agreements  with  OECD  and  G20 members is continuing to enhance the Island's international personality, and generally is helping to engender a more favourable view of the Island amongst the international community. Mexico is a G20 Member and Jersey has signed, initialled or completed negotiations with 16 of the 19 G20 countries.
14. There are no implications for the financial or manpower resources of the States arising from the ratification and implementation of the agreement with the United Mexican States.

16th December 2010

APPENDIX

AGREEMENT BETWEEN

THE GOVERNMENT OF JERSEY

AND

THE GOVERNMENT OF THE UNITED MEXICAN STATES

ON THE EXCHANGE OF INFORMATION RELATING TO TAX MATTERS

Whereas  the  Government  of  Jersey  and  the  Government  of  the  United Mexican  States  (the  Parties)  wish  to  enhance  and  facilitate  the  exchange  of information relating to taxes;

Whereas it is acknowledged that the Government of Jersey has the right under the terms of its Entrustment from the United Kingdom of Great Britain and Northern Ireland to negotiate, conclude, perform and subject to the terms of this Agreement terminate a tax information exchange agreement with the Government of the United Mexican States;

Now, therefore, the Parties have agreed to conclude the following Agreement which contains obligations on the part of the Parties only:

Article 1

Object and Scope of the Agreement

The competent authorities of the Parties shall provide assistance through exchange of information that is foreseeably relevant to the administration and enforcement of the domestic  laws  of  the  Parties  concerning  taxes  covered  by  this  Agreement.  Such information shall include information that is foreseeably relevant to the determination, assessment, enforcement, collection or recovery of such taxes, with respect to persons subject to such taxes, or to the investigation of tax matters or the prosecution of criminal tax matters in relation to such persons. The rights and safeguards secured to persons by the laws or administrative practice of the requested Party remain applicable to  the  extent  that  they  do  not  unduly  prevent  or  delay  effective  exchange  of information.

Article 2 Jurisdiction

To  enable  the  scope  of  this  Agreement  to  be  implemented,  information  shall  be provided  in  accordance  with  this  Agreement  by  the  competent  authority  of  the requested Party without regard to whether the person to whom the information relates is, or whether the information is held by, a resident or national of a Party. A requested Party is not obligated to provide information which is neither held by its authorities nor in the possession of or in the control of or obtainable by persons who are within its territorial jurisdiction.

Article 3 Taxes Covered

1. The taxes which are the subject of this Agreement are:

1. In Mexico:

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– federal income tax;

– business flat rate tax; and

– value added tax.

2. in Jersey:

– the income tax;

– the goods and services tax.

2. This Agreement shall apply also to any identical or any substantially similar taxes imposed after the date of signature of the Agreement in addition to or in place of the existing taxes. The Agreement shall also apply to other taxes as may be agreed in an exchange of letters between the Parties. The competent authority of each Party shall notify the other of substantial changes in laws or measures which may affect the obligations of that Party pursuant to this Agreement.  

Article 4 Definitions

1. For the purposes of this Agreement the term:

1. "Mexico"  means  the  United  Mexican  States,  when  used  in  a geographical sense it includes the territory of the United Mexican States, as well as the integrated parts of the Federation, the islands, including the reefs and cays in the adjacent waters, the islands of Guadalupe and Revillagigedo, the continental shelf and the seabed and sub-soil of the islands, cays and reefs, the waters of the territorial seas and the inland waters and beyond them the areas over which, in accordance  with  the  international  law,  Mexico  may  exercise  its sovereign  rights  of  exploration  and  exploitation  of  the  natural resources of the seabed, sub-soil and the suprajacent waters, and the air space of the national territory to the extent and under conditions established by international law;
2. "Jersey" means the Bailiwick of Jersey, including the territorial sea;
3. "competent authority" means

1. in the case of Mexico, the Ministry of Finance and Public Credit;
2. in the case of Jersey, the Treasury and Resources Minister or his authorized representative;

4. "person" means an individual, a company or any body or group of persons;
5. "company" means any body corporate or any entity that is treated as a body corporate for tax purposes;
6. "publicly traded company" means any company whose principal class of shares is listed on a recognised stock exchange provided its listed

shares can be readily purchased or sold by the public. Shares can be purchased or sold "by the public" if the purchase or sale of shares is not implicitly or explicitly restricted to a limited group of investors;

7. "principal  class  of  shares"  means  the  class  or  classes  of  shares representing a majority of the voting power and value of the company;
8. "recognised stock exchange" means any stock exchange agreed upon by the competent authorities of the Parties;
9. "collective investment fund or scheme" means any pooled investment vehicle,  irrespective  of  legal  form.  The  term  "public  collective investment fund or scheme" means any collective investment fund or scheme provided the units, shares or other interests in the fund or scheme can be readily purchased, sold or redeemed by the public. Units, shares or other interests in the fund or scheme can be readily purchased, sold or redeemed "by the public" if the purchase, sale or redemption is not implicitly or explicitly restricted to a limited group of investors;
10. "tax" means any tax to which the Agreement applies;
11. "requesting Party" means the Party requesting information;
12. "requested Party" means the Party requested to provide information;
13. "information gathering measures" means laws and administrative or judicial  procedures  that  enable  a  Party  to  obtain  and  provide  the requested information;
14. "information" means any fact, statement, document or record in any form whatever;
15. "criminal  tax  matters"  means  tax  matters  involving  intentional conduct which is liable to prosecution under the criminal laws of the requesting Party;
16. "criminal laws" means all criminal laws designated as such under domestic law irrespective of whether contained in the tax laws, the criminal code or other statutes.

2. As regards the application of this Agreement at any time by a Party, any term

not defined therein shall, unless the context otherwise requires, have the meaning that it has at that time under the laws of that Party, any meaning under the applicable tax laws of that Party prevailing over a meaning given to the term under other laws of that Party.

Article 5

Exchange of Information Upon Request

1. The competent authority of the requested Party shall provide upon request by the  requesting  Party  information  for  the  purposes  referred  to  in  Article  1.  Such information shall be exchanged without regard to whether the requested Party needs

such information for its own tax purposes or the conduct being investigated would constitute a crime under the laws of the requested Party if such conduct occurred in the territory of the requested Party. The competent authority of the requesting Party shall only make a request for information pursuant to this Article when it is unable to obtain the requested information by other means, except where recourse to such means would give rise to disproportionate difficulty.

2. If  the  information  in  the  possession  of  the  competent  authority  of  the requested  Party  is  not  sufficient  to  enable  it  to  comply  with  the  request  for information,  the  requested  Party  shall  use  its  appropriate  information  gathering measures necessary to provide the requesting Party with the information requested, notwithstanding that the requested Party may not need such information for its own tax purposes.
3. If specifically requested by the competent authority of the requesting Party, the competent authority of the requested Party shall provide information under this Article, to the extent allowable under its domestic laws, in the form of depositions of witnesses and authenticated copies of original records.
4. Each  Party  shall  ensure  that  its  competent  authorities  for  the  purposes specified in Article 1 and in accordance with Article 2 of the Agreement, have the authority to obtain and provide upon request:

1. information held by banks, other financial institutions, and any person including nominees  and trustees, acting in an agency or fiduciary capacity;
2. (i)  information regarding the legal and beneficial ownership of companies,  partnerships,  and  other  persons,  including ownership information on all such persons in an ownership chain;

2. in  the  case  of  trusts,  information  on  settlors,  trustees, protectors and beneficiaries;
3. in the case of foundations, information on founders, members of the foundation council and beneficiaries; and
4. in the case of collective investment schemes, information on shares, units and other interests;

provided that this Agreement does not create an obligation on either Party  to  obtain  or  provide  ownership  information  with  respect  to publicly traded companies or public collective investment funds or schemes unless such information can be obtained without giving rise to disproportionate difficulties.

5. Any  request  for  information  shall  be  formulated  with  the  greatest  detail possible and shall specify in writing:

1. the identity of the person under examination or investigation;
2. the period for which the information is requested;

3. the nature of the information requested and the form in which the requesting Party would prefer to receive it;
4. the tax purpose for which the information is sought;
5. the reasons for believing that the information requested is foreseeably relevant  to  tax  administration  and  enforcement  of  the  requesting Party, with respect to the person identified in subparagraph (a) of this paragraph;
6. grounds for believing that the information requested is held by the requested Party or is in the possession of or in the control of or obtainable  by  a  person  within  the  territorial  jurisdiction  of  the requested Party;
7. to the extent known, the name and address of any person believed to be in the possession of or in the control of or able to obtain the requested information;
8. a  statement  that  the  request  is  in  conformity  with  the  laws  and administrative practices of the requesting Party, that if the requested information was within the jurisdiction of the requesting Party, then the  competent  authority  of  the  requesting  Party  would  be  able  to obtain the information under the laws of the requesting Party or in the normal course of administrative practice and that it is in conformity with this Agreement;
9. a statement that the requesting Party has pursued all means available in its own territory to obtain the information, except those that would give rise to disproportionate difficulties.

6. The competent authority of the requested Party shall acknowledge receipt of the request to the competent authority of the requesting Party and shall use its best endeavours to forward the requested information to the requesting Party with the least reasonable delay.

Article 6

Tax Examinations Abroad

1. With reasonable notice, a Party may allow representatives of the competent authority of the other Party to enter the territory of the first-mentioned Party, to the extent permitted under its domestic laws, to interview individuals and examine records with the prior written consent of the individuals or other persons concerned. The competent authority of the second-mentioned Party shall notify the competent authority of the first-mentioned Party of the time and place of the intended meeting with the individuals concerned.
2. At  the  request  of  the  competent  authority  of  one  Party,  the  competent authority  of  the  other  Party  may  allow  representatives  of  the  competent authority of the first-mentioned Party to be present at the appropriate part of a tax examination in the second-mentioned Party;

3. If the request referred to in paragraph 2 is acceded to, the competent authority of the Party conducting the examination shall, as soon as possible, notify the competent  authority  of  the  other  Party  about  the  time  and  place  of  the examination, the authority or official designated to carry out the examination and the procedures and conditions required by the first-mentioned Party for the conduct of the examination. All decisions with respect to the conduct of the tax examination shall be made by the Party conducting the examination.

Article 7

Possibility of Declining a Request

1. The competent authority of the requested Party may decline to assist:

1. where the request is not made in conformity with this Agreement;
2. where the requesting Party has not pursued all means available in its own territory to obtain the information, except where recourse to such means would give rise to disproportionate difficulty; or
3. where the disclosure of the information requested would be contrary to the public policy of the requested Party.

2. This Agreement shall not impose upon a Party any obligation to provide items subject to legal privilege as provided for under the domestic law of the relevant Party, or any trade, business, industrial, commercial or professional secret or trade process, provided that information described in Article 5(4) shall not by reason of that fact alone be treated as such a secret or trade process.
3. A request for information shall not be refused on the ground that the tax claim giving rise to the request is disputed.
4. The requested Party shall not be required to obtain and provide information which the requesting Party would be unable to obtain under its own laws for the purpose of the administration or enforcement of its own tax laws or in response to a valid  request  made  in  similar  circumstances  from  the  requested  Party  under  this Agreement.
5. The requested Party may decline a request for information if the information is requested by the requesting Party to administer or enforce a provision of the tax law of the requesting Party, or any requirement connected therewith, which discriminates against a national of the requested Party as compared with a national of the requesting Party in the same circumstances.

Article 8

Confidentiality

1. All information provided and received by the competent authorities of the Parties shall be kept confidential.
2. Information provided to the competent authority of the requesting Party may not be used for any purpose other than the purposes stated in Article 1 without the prior express written consent of the requested Party.

3. Information  provided  shall  be  disclosed  only  to  persons  or  authorities (including  judicial  and  administrative  authorities)  concerned  with  the  purposes specified in Article 1 and used by such persons or authorities only for such purposes including the determination of any appeal. For these purposes, information may be disclosed in public court proceedings or in judicial decisions.
4. The information provided to a requesting Party under this Agreement may not be disclosed to any other jurisdiction.

Article 9 Costs

Unless  the  competent  authorities  of  the  Parties  otherwise  agree,  ordinary  costs incurred  in  providing  assistance  shall  be  borne  by  the  requested  Party,  and extraordinary  costs  in  providing  assistance  (including  costs  of  engaging  external advisers in connection with litigation or otherwise) shall be borne by the requesting Party. The respective competent authorities shall consult from time to time with regard to this Article, and in particular the competent authority of the requested Party shall consult with the competent authority of the requesting Party if the costs of providing information with respect to a specific request are expected to be significant.

Article 10

Mutual Agreement Procedure

1. Where  difficulties  or  doubts  arise  between  the  Parties  regarding  the implementation or interpretation of the Agreement, the competent authorities shall endeavour to resolve the matter by mutual agreement.
2. In  addition  to  the  agreements  referred  to  in  paragraph  1,  the  competent authorities of the Parties may mutually agree on the procedures to be used under Articles 5, 6 and 9.
3. The competent authorities of the Parties may communicate with each Other directly for the purposes of reaching agreement under this Article.
4. The Parties may also agree on other forms of dispute resolution should this become necessary.

Article 11 Entry into Force

1. The Parties shall notify each Other in writing about the completion of their internal procedures for the entry into force of this Agreement.
2. This Agreement shall enter into force thirty (30) days after the reception of the later notification and shall have effect:

1. for criminal tax matters on that date; and
2. for all other matters covered in Article 1 on that date, but only in respect of taxable periods beginning on or after that date or, where

there is no taxable period, all charges to tax arising on or after that date.

Article 12 Termination

1. This Agreement shall remain in force until terminated by either Party.
2. Either Party may after its entry into force terminate this Agreement by giving notice of termination in writing. Such termination shall become effective on the first day of the month following the expiration of a period of six months after the date of receipt of notice of termination by the other Party. All requests received up to the effective date of termination will be dealt with in accordance with the terms of this Agreement.
3. If the Agreement is terminated the Parties shall remain bound by the provisions of Article 8 with respect to any information obtained under this Agreement.

IN WITNESS WHEREOF, the undersigned, being duly authorised thereto have signed the Agreement.

Done at the Cities of Mexico and Saint Helier on the ___________ day of _____________ and the ___________ day of ______________ two thousand and ten, respectively, in two originals, each in the English and Spanish languages, both texts being equally authentic.

FOR THE GOVERNMENT OF JERSEY

Terry Le Sueur Chief Minister

FOR THE GOVERNMENT OF THE UNITED MEXICAN STATES

Ernesto Javier Cordero Arroyo Minister of Finance and Public Credit

MEMORANDUM OF UNDERSTANDING

BETWEEN

THE TREASURY AND RESOURCES MINISTER OF JERSEY AND

THE MINISTRY OF FINANCE AND PUBLIC CREDIT OF THE UNITED MEXICAN STATES

CONCERNING

THE INTERPRETATION OR APPLICATION OF THE AGREEMENT BETWEEN THE GOVERNMENT OF JERSEY

AND THE GOVERNMENT OF THE UNITED MEXICAN STATES ON THE EXCHANGE OF INFORMATION

RELATING TO TAX MATTERS

("THE TIEA") AND THE ACKNOWLEDGEMENT

OF OTHER UNDERTAKINGS MADE BETWEEN THE COMPETENT AUTHORITIES

The Treasury and Resources Minister of Jersey and the Ministry of Finance and Public Credit  of  the  United  Mexican  States  ("the  competent  authorities"),  desiring  to facilitate  the  exchange  of  information  with  respect  to  taxes,  have  reached  the following understandings:

1. With respect to paragraph 6 of Article 5 (Exchange of Information Upon Request)  of  the  Agreement,  it  is  understood  that  the  competent  authority  of  the requested Party will acknowledge receipt of the request in writing to the competent authority of the requesting Party and will use its best endeavours to:

1. notify the competent authority of the requesting Party of deficiencies in the request, if any, within sixty (60) days of the receipt of the request; and
2. Immediately inform the requesting Party, explaining the reasons for its inability, the nature of the obstacles or the reason for its refusal, if it has been unable to obtain and provide the information within ninety

(90) days of receipt of the request, including if it encounters obstacles in furnishing the information or it refuses to furnish the information.

2. With respect to the expression "By reasonable notice" referred to in paragraph 1 of Article 6 (Tax Examinations Abroad) of the Agreement, it is understood that such expression means at least fourteen (14) days prior to the date of the intended meeting.
3. With respect to Article 9 (Costs) it is understood that:

1. The term "extraordinary costs" includes, but is not limited to:

1. reasonable costs of reproducing and transporting documents or records to the competent authority of the requesting Party;
2. reasonable  fees  charged  by a  financial  institution  or  other third party record keeper for copying records and research related to a specific request for information;

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3. reasonable  costs  for  stenographic  reports  and  interviews, depositions or testimony;
4. reasonable fees and expenses, determined in accordance with amounts  allowed  under  applicable  law,  of  a  person  who voluntarily appears in Jersey or in Mexico for an interview, deposition or testimony relating to a particular information request;
5. reasonable legal fees for non-government counsel appointed or retained, with the approval of the competent authority of the  requesting  Party,  for  litigation  in  the  courts  of  the requested Party related to a specific request for information;

2. The term "ordinary costs" includes, but is not limited to, ordinary administrative and overhead expenses incurred by the requested Party in reviewing and responding to information requests submitted by the requesting Party.
3. If the extraordinary costs pertaining to a specific request are expected to  exceed  £500  (five  hundred  sterling  pounds),  the  competent authority of the requested Party will contact the competent authority of the requesting Party to determine whether the requesting Party wants to pursue the request.
4. The  competent  authorities  will  consult  not  later  than  twelve  (12) months  after  the  date  the  Agreement  enters  into  force,  and  upon request of either competent authority thereafter, with respect to costs incurred or potentially to be incurred under the Agreement and with a view to minimizing such costs.

4. This Memorandum of Understanding will come into effect on the entry into force of the TIEA.
5. When  interpreting  provisions  of  the  TIEA  the  competent  authorities  may jointly decide to take into consideration the commentaries pertaining to the 2002 Agreement on Exchange of Information on Tax Matters of the OECD (OECD Model Agreement) where those provisions are identical to the provisions of that Agreement.
6. The  competent  authorities  may  jointly  decide,  in  writing,  to  amend  this Memorandum of Understanding at any time. Amendments to the Memorandum of Understanding will come into effect on the date of the final letter confirming the amendment.
7. This Memorandum of Understanding will remain in effect until terminated at any time in writing, by either competent authority.
8. Formal  communications,  including  requests  for  information,  made  in connection with or pursuant to the provisions of the Agreement entered into will be in writing  directly  to  the  competent  authority  of  the  other  Party.  Any  subsequent communications  regarding  requests  for  information  will  be  either  in  writing  or verbally,  whichever  is  most  practical,  between  the  earlier  mentioned  competent authorities or their authorised representatives.

Done at the Cities of Mexico and Saint Helier on the ___________ day of _____________ and the ___________ day of ______________ two thousand and ten, respectively, in duplicate, in the English and Spanish languages, both texts being equally authentic.

THE TREASURY AND RESOURCES MINISTER FOR JERSEY

Philip Ozouf Minister

FRO THE MINISTRY OF FINANCE AND PUBLIC CREDIT OF THE UNITED MEXICAN STATES

Ernesto Javier Cordero Arroyo Minister

STATES OF JERSEY

1. TAX INFORMATION EXCHANGE AGREEMENTS (TIEAs)

1. TIEAs signed

Note: dates in brackets are the expected dates based on latest information from the country concerned.

2. TIEAs initialled/agreed ready for signing:

• Argentina

• Brazil

• Canada

• Indonesia

• India

• Italy

• Republic of Korea

• South Africa

3. TIEAs  where  negotiations  are  well  advanced  with  a  draft  agreement exchanged :

• Czech Republic

• Greece

• Japan

• Spain

4. Jurisdictions contacted from which there has been a positive response and/or initial action has been taken:

• Hungary

• Luxembourg

• Poland

• Russia

• Switzerland

5. Jurisdictions approached but from whom a formal response is awaited:

• OECD Member States;

– Austria

– Slovak Republic

• G20 Member States;

– Saudi Arabia

2. DOUBLE TAXATION AGREEMENTS( DTAs)

1. DTAs signed:

• Malta –  

signed 25th January 2010 ratified by Malta February 2010 ratified by Jersey June 2010

in force – 19th July 2010

• Estonia -

signed 21st December 2010

2. DTAs where negotiations are well advanced:

• Bahrain

• Belgium

• Qatar

Enquiries concerning the above should be directed in the first instance to Colin Powell, Adviser – International Affairs in the Chief Minister's Department.

Tel: 44(0)1534 440414; E-mail: c.powell@gov.je

Colin Powell Adviser – International Affairs

21st December 2010