Jersey signed a tax information exchange agreement (TIEA) with Switzerland this week, making it the Channel Isle's 32nd TIEA which meets the OECD tax standards on transparency and information exchange.

Senator Ian Gorst, the chief minister for the government of Jersey, who signed the TIEA in London said: 'The signing of the TIEA with Switzerland continues Jersey's firm and longstanding commitment to the international standards of transparency and information exchange. It is also the 25th tax agreement signed with an OECD member state.

'The signing of a TIEA with Switzerland is particularly welcome because we have a great deal in common as international finance centres and the agreement will serve to further strengthen what is already an important business relationship.'

More details on the agreement are available HERE

Separately, the Isle of Man announced that it has signed tax agreements with Italy and Lesotho.

Isle of Man Treasury minister Eddie Teare MHK, who signed in London, said that the Isle of Man government welcomed the signing of the Tax Information Exchange Agreements with Italy and Lesotho.

'These agreements are the Island's 30th and 31st TIEAs and the Island now has 41 agreements that meet the OECD international standard on tax co-operation and transparency. Italy is the 17th EU Member State with whom the Isle of Man has signed an agreement that meets to OECD standard, whilst the agreement with Lesotho is the 3rd the Island has signed with Members of the Southern African Development Community and it demonstrates the Island's continuing support to the OECD's Global Forum commitment to sharing expertise and best practice on tax transparency and information exchange with developing nations,' said Teare.