Jersey signs tax agreement with Rwanda

Tuesday 30 June 2015

External Relations Minister Philip Bailhache has signed an historic tax agreement with the Republic of Rwanda at a ceremony in London.

The Double Tax Agreement was signed in Friday - the ninth agreement that Jersey has committed to, after agreements with Guernsey, Estonia, Hong Kong China, Isle of Man, Luxembourg, Malta, Qatar and Singapore.

The Rwandan agreement was signed for Jersey by Senator Bailhache, and for the Republic of Rwanda by the High Commissioner, HE Williams Nkurunziza.

The Double Tax Agreements (DTAs) provide for the avoidance of double taxation on both corporate and personal income including business profits, dividends, interest, royalties, income from employment and pensions.

They also serve as a Tax Information Exchange Agreement, committing both countries to sharing data between tax and law enforcement authorities in respect of tax and fraud investigations.

Senator Bailhache said: “I am delighted to have signed this DTA with the Republic of Rwanda.

"We attach great importance to the DTA with Rwanda as the first DTA with an African country, and one that will support inward investment into Rwanda and further enhance the close economic and political relationships that already exist between Jersey and Rwanda.

"These relationships were reinforced by the recent visit to Rwanda by the Assistant Chief Minister, Senator Philip Ozouf, and technical assistance has been offered to Rwanda in the pursuit of their plans to become an international finance centre.”