Jersey and UK sign tax sharing agreement

Jersey's Chief Minister Senator Ian Gorst and the Exchequer Secretary to the Treasury David Gauke sign a tax exchange deal
Image caption Senator Ian Gorst said it reinforced the island's stand against tax evasion and avoidance

Jersey has agreed an automatic tax information sharing deal with the UK aimed at combating tax evasion.

It follows a similar deal struck with the Isle of Man earlier this month and discussions with the other Crown Dependency of Guernsey.

UK Chancellor George Osborne said it was a "clear signal to anyone thinking they can evade their responsibilities".

"The opportunities to hide your money offshore are disappearing and the net is closing in," he said.

Senator Ian Gorst, Jersey's Chief Minister, said: "It sends another clear signal that Jersey has no need or desire to tolerate tax evasion or aggressive tax avoidance.

"As well as our innumerable cultural, social and historical ties, the UK is our closest economic partner.

"In signing this agreement we are securing this vital relationship while reinforcing our international reputation as a transparent and well-regulated financial services centre."

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