Jersey Finance welcomes tax agreement with Hungary

MEDIA RELEASE: The views expressed in this article are those of the author and not Bailiwick Express, and the text is reproduced exactly as supplied to us

Jersey Finance has welcomed the signing of the Tax Information Exchange Agreement (TIEA) with Hungary which took place in London on Tuesday (January 28, 2014). The agreement was signed at the Hungarian Embassy by Jersey’s Minister for External Relations, Senator Sir Philip Bailhache and the Hungarian Ambassador, His Excellency Janos Csak.

Jersey has now signed 34 TIEAs and eight double taxation agreements and this total includes 19 signed agreements (TIEA or DTA) with EU Member States.

Geoff Cook, CEO, Jersey Finance Limited, commented:

‘Each of the TIEA agreements which are signed with EU Member States is important in signalling Jersey’s commitment to international co-operation and also helps to foster and build on our relationship with countries in the EU. It also reaffirms Jersey’s reputation as a well regulated jurisdiction, so this latest agreement with Hungary is clearly welcomed.’