Jersey signs DTA with Malta in bid to be taken off OECD black list
Charlot Zahra Jersey has signed a comprehensive Double Taxation Agreement (DTA) with Malta in a bid to be taken off the Organisation for Economic Cooperation and Development (OECD)’s black list of tax havens. This was Jersey’s first DTA which was based on the OECD model convention.
This DTA also represented Jersey’s 16th international tax agreement to meet the OECD tax standards on transparency and information exchange.
The DTA was signed on Monday at the Maltese High Commission in London by Jersey Chief Minister Terry Le Sueur and Maltese High Commissioner to the United Kingdom Joseph Zammit Tabona.
Commenting on the agreement, Le Sueur explained how the signing of the DTA with Malta was “a significant step”.
“We are keen to develop our business relationships with the EU and therefore we are delighted that through the DTA we will be further strengthening our political and business relationship with a Member States,” the Jersey Chief Minister insisted.
He added that it was also “further evidence of Jersey’s firm commitment to the international tax standards of transparency and information exchange, and of its willingness to continue to negotiate international tax agreements”.
Jersey was continuing to negotiate further tax agreements and was also playing an important international role as one of four Vice-Chairs of the Peer Review Group, which was set up by the Global Forum on Transparency and Exchange of Information for Tax Purposes.
The group was responsible for monitoring and assessing compliance with international standards.