Guernsey has signed a Double Taxation Agreement (DTA) with Singapore and a Tax Information Exchange Agreement (TIEA) with Brazil. Guernsey has also signed a TIEA with Mauritius.
Peter Harwood, chief minister of Guernsey, signed the agreements on behalf of the Government of Guernsey in London.
The DTA was signed by T Jasudasen, Singapore’s High Commissioner to the UK.
Fiona Le Poidevin, chief executive of Guernsey Finance, said: “Signing a DTA with Singapore is a very positive development for the future of Guernsey’s finance industry. For several years we have been raising awareness of Guernsey in the Far East, including Singapore.”
“The DTA means that individuals or companies with ‘home’ as one jurisdiction but with interests in the other jurisdiction will not be taxed by both sets of authorities on the same income. This clarity and certainly on matters of taxation makes it more attractive to conduct business between the two jurisdictions.”
The TIEA was signed by Brazil’s Ambassador to the UK, Roberto Jaguaribe
Le Poidevin said: “I also welcome the signing of a TIEA with Brazil. The economic growth in South America means that there is huge potential for Guernsey’s finance industry to attract business from both high net worth individuals and expanding companies in the region, especially in the more developed countries such as Brazil.”
“The TIEA is an indication of the growing relationship between Guernsey and Brazil and a significant step in enhancing the potential for further business flows between the two jurisdictions.”
Guernsey has now signed 15 DTAs, including five full DTAs and 10 ‘partial’ DTAs, as well as 40 TIEAs, including 16 members of the G20.
