Jersey to sign tax agreement with Canada

An agreement is to be signed to enable information about tax to be shared between Jersey and Canada.

The Canadian High Commissioner to the UK, James Wright, is due to sign the agreement with the Chief Minister Senator Terry le Sueur.

Jersey has already signed 20 tax information exchange agreements with other nations.

The agreements have been signed since 2002, when Jersey agreed to follow the OECD's scheme on tax transparency.

Mr Wright said: "Canada has strong links with Jersey and Canadian businesses have a real presence on the island - particularly in financial services, where our companies have contributed to the local economy for nearly half a century.

"We welcome the signing of a tax information exchange agreement which will allow us to share tax information and will ensure international standards of financial regulation are met."

The agreement will come into force once both governments have ratified it.