Signing of the Tax Agreement between the Government of Japan and the Government of Jersey
December 5, 2011
- The Agreement between the Government of Japan and the Government of Jersey for the Exchange of Information for the Purpose of the Prevention of Fiscal Evasion and the Avoidance of Double Taxation with Respect to Taxes on Income of Individuals (Tax Agreement between the Government of Japan and the Government of Jersey) was signed on December 2, 2011, in London (the U.K.) by H.E. Mr. Keiichi Hayashi, Ambassador of Japan to the U.K. and Senator Ian Gorst, Chief Minister of Jersey.
- This Agreement provides for a detailed mechanism for the exchange of tax information, with a view to preventing cross-border fiscal evasion and tax avoidance, and also provides for tax exemption with respect to income of individuals such as pensions, for the purpose of promoting personal exchange between Japan and Jersey. This Agreement is the fifth international agreement aiming for the exchange of tax information that Japan signs, following the Agreements with Bermuda, The Bahamas, the Cayman Islands and the Isle of Man, and it will be expected to contribute to expanding the international information exchange network aiming at the prevention of cross-border fiscal evasion and tax avoidance.
- This Agreement will enter into force on the thirtieth day after the date of exchange of notes indicating that this Agreement has been approved in accordance with the respective legal procedures of Japan and Jersey (in the case of Japan, approval by the Diet will be necessary).
- (*The foregoing is a provisional translation. The date indicated above denotes the date of issue of the original press release in Japanese.)