Agreement in Principle on the Tax Agreement centred on the Exchange of Information between the Government of Japan and the Government of Jersey
March 18, 2011
- The Government of Japan and the Government of Jersey, as the result of the intergovernmental negotiations, have agreed in principle on an Agreement 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.
- The Government of Japan welcomes this agreement in principle which demonstrates Jersey’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 fiscal evasion and tax abuse by concluding this Agreement as early as possible.
- This Agreement also provides for the exemption of tax at source for certain income of individuals such as pensions, so that exchange of people between Japan and Jersey is promoted.
- This Agreement will be signed after the work for the finalization of the text and the procedures within both Governments, and enter into force after the completion of the domestic procedures for the conclusion of the Agreement.
- (*This is a provisional translation. The above date denotes the date of the issue of the original press release in Japanese.)
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