Jersey signs tax information exchange agreement with Hungary

Jersey and Hungary signed a Tax Information Exchange Agreement (TIEA) at the Hungarian Embassy in London on Tuesday, 28 January, 2014. The Agreement was signed by the Minister for External Relations, Senator Sir Philip Bailhache, and the Hungarian Ambassador, His Excellency Janos Csak.

Senator Bailhache said: “We attach great importance to the signing of this TIEA with Hungary. While Jersey is not a part of the European Union, we are part of Europe and we have long pursued a good neighbour policy towards the Member States of the EU. It is also further evidence of Jersey’s full commitment to compliance with the current international standards on transparency and exchange of information for tax purposes.”

The tax information exchange agreement will come into force once the Parties have completed their respective domestic procedures for ratification. – See more at: http://www.businesslife.co/BusinessNews.aspx?id=jersey-signs-tax-information-exchange-agreement-signed-with-hungary#sthash.GnLRC3Dh.dpuf