Agreement in Principle on the Tax Agreement centered on the Exchange of Information between the Government of Japan and the Government of Guernsey
January 27, 2011
- The Government of Japan and the Government of Guernsey, a British Crown Dependency, have agreed in principle on an Agreement for the exchange of information relating to tax matters and the avoidance of double taxation with respect to taxes on income of individuals, as the result of the intergovernmental negotiations,.
- The Government of Japan welcomes this agreement in principle which demonstrates the Government of Guernsey’s commitments to preventing international fiscal evasion and tax abuse, the importance of which has been reiterated in a series of international conferences, because the Agreement to be concluded provides for the effective exchange of information regarding tax matters in accordance with the international standard.
- The Government of Japan is determined to contribute to the strengthening of the information exchange network aimed at the prevention of international tax evasion and tax abuse by concluding this Agreement as early as possible.
- This Agreement will be signed after the work for the finalization of the text and the procedures within the both Governments, and enter into force, after the completion of the domestic procedures for the conclusion of the Agreement (in case of Japan, approval by the Diet will be necessary).
- (*This is a provisional translation. The above date denotes the date of the issue of the original press release in Japanese.)