Japan and the Channel Island government of Guernsey have this week signed a Tax Information Exchange Agreement (TIEA). The Agreement provides for a detailed mechanism for the exchange of tax information, including local government taxes, with a view to preventing cross-border fiscal evasion and tax avoidance (see also Ministry of Foreign Affairs press release.)
Deputy Lyndon Trott, Chief Minister of Guernsey, said:
Guernsey’s links with Japan have grown through 2011. Just a few months ago we shared our ideas and expertise in fostering innovation and entrepreneurialism with the Japanese Local Government Centre when they visited the Channel Islands. The signing of this TIEA is a further, formal development of the relationship between Guernsey and Japan, a relationship that will clearly go from strength to strength.
The TIEA follows that also concluded with the Isle of Man this summer.