Jersey signs tax agreement with Luxembourg

image source, bbc
image captionThe minister said the deal would strengthen Jersey's political and business relationship with Luxembourg

A tax agreement with Luxembourg will strengthen political and business relations, says a Jersey politician.

Senator Sir Philip Bailhache, assistant chief minister with responsibility for external relations, signed the agreement this week.

He said the agreement showed Jersey's commitment to transparency and information exchange.

The double taxation agreement (DTA) helps businesses and individuals avoid having to pay taxes in both places.

It is the eighth DTA which Jersey has signed and the 39th tax agreement which meets international standards.

Senator Bailhache said: "The signing of the DTA will further strengthen our political and business relationship with an EU member state.

"The signing of a DTA with Luxembourg is particularly welcome because we have a great deal in common as international finance centres and the agreement will serve to further strengthen what is already an important business relationship."

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