Guernsey's
Chief Minister, Deputy Peter Harwood, signed Tax Information Exchange
Agreements (TIEAs) with Switzerland and with Hungary in London today,
according to a government press release.
Deputy
Harwood commented: "Guernsey's relationship with Switzerland is
of great value and we have much in common as finance centers outside
of, but working with, the European Union."
He
went on: "I am delighted to be able to sign this Agreement, not
only because it acts as another indicator of Guernsey's commitment to
tax transparency, but also because Switzerland is a country of
significance for our industry. This Agreement strengthens the
economic and political ties between Guernsey and Switzerland."
Dominik
Furgler, the Swiss Ambassador to the UK said: "I am very pleased
to sign this Tax Information Exchange Agreement with Guernsey, which
will contribute to strengthening the relationship between Switzerland
and Guernsey, and further demonstrates Switzerland's commitment to
implementing international standards."
Guernsey's
Chief Minister also signed an agreement with the Hungarian Ambassador
to the UK, Janos Csak. Commenting on the agreement, Deputy Harwood
said: "I am very pleased to sign this agreement with Hungary, a
country which sits at the heart of the European Union and is now a
long-standing member of the Organization for Economic Co-operation
and Development and the World Trade Organization.
"The
agreement demonstrates Guernsey's ongoing commitment to tax
transparency with the member states of the EU."
Guernsey's
Director of Income Tax Rob Gray noted that: "The signing of this
latest TIEA Agreement takes Guernsey's total to 46 - including 16 of
the G20 members. The Island's growing network of tax agreements
further demonstrates the ongoing commitment to meeting and exceeding
international standards in tax transparency."
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