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Jersey removed from French blacklist

Staff writer ▼ | December 22, 2013
The French Government announced that Jersey is no longer considered to be non-cooperative in the exchange of tax information and that France will not be applying a withholding tax on French business with the Island.
Jersey
JerseyThe French Government announced that Jersey is no longer considered to be non-cooperative in the exchange of tax information and that France will not be applying a withholding tax on French business with the Island.


In August 2013, the French Government placed Jersey on a list of jurisdictions considered non-cooperative in the exchange of tax information. The repercussions of that decision would have been an imposition of sanctions by the French Government on all French business with the Island, to be brought into effect from 1 January 2014.

Since August, Jersey has sought to demonstrate to the French authorities that the Island is fully committed to cooperative exchange of information under Tax Information Exchange Agreements (TIEAs), including the Jersey/France agreement. The Government of Jersey has reviewed the processes it uses to deal with tax information requests, and subsequent changes to the law now limit the ability of those who are the subject of a TIEA request to appeal to the Jersey courts.

Responding to the French Government's announcement, the Minister for External Relations, Senator Sir Philip Bailhache, said "Ministers and officials from the Chief Minister's and Treasury Departments have made great efforts to meet the concerns of French Ministers. I am very pleased that these efforts have borne fruit.

"We have always seen ourselves as a cooperative jurisdiction, a view shared by the organisations responsible for setting international standards, and we have been confident that we would be able to convince the French Government to share this view."

The Chief Minister, Senator Ian Gorst, said "This result follows significant efforts by the Government of Jersey and its officials, and I would like to express my thanks to all concerned. The strong support that we have had from the UK Government has also been greatly appreciated.


 

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