Guernsey signs tax agreement with Luxembourg

Signing a tax agreement with Luxembourg shows Guernsey's commitment to meeting the highest global standards, the island's treasury minister has said.

Deputy Gavin St Pier said: "This is an important further component in Guernsey's network of tax agreements."

It is the seventh double taxation agreement signed since the start of 2012.

Deputy St Pier also agreed a Tax Information Exchange Agreement with Botswana on Friday.

He said an understanding was due to be concluded with Swaziland shortly.

Deputy St Pier said: "The OECD's Global Forum has emphasised the importance of working with developing countries to share expertise on tax information exchange, thereby helping them to protect their tax revenues."