The OECD announced today that Guernsey, Isle of Man and Jersey now have exchange of information agreements with all of their major economic partners.
Guernsey has signed agreements with France, Germany and Ireland; Isle of Man signed an agreement with France; and Jersey signed agreements with both France and Ireland. Guernsey and Jersey now have 13 agreements each, including 11 with OECD countries, while the Isle of Man has 14, of which 12 are with OECD countries.
Jeffrey Owens, Director of the OECD’s Centre for Tax Policy and Administration, says “*At a time when many countries have been promising change, Guernsey, Jersey and the Isle of Man have been delivering. I am particularly pleased that the Isle of Man now has 12 agreements with OECD countries in accordance with the OECD standard. This is an important milestone in implementing its commitment to international co-operation.”*
All three reportedly have been consistent in supporting the work of the OECD and the Global Forum on Transparency and Exchange of Information, with Jersey and the Isle of Man taking an active and constructive role in the work of the Global Forum’s Sub-Group on Level Playing Field Issues, Mr. Owens said. He added, *“The positive outcomes of the Sub-Group’s work, as well as the lead that these jurisdictions have taken in signing tax information exchange agreements, have played a big part in the developments in favour of greater transparency that we are now seeing around the globe.”*