Guernsey has signed Tax Information Exchange Agreements (TIEAs) with Switzerland and Hungary.
Guernsey’s chief minister, Peter Harwood, who signed the two agreements in London this week, said: "Guernsey’s relationship with Switzerland is of great value and we have much in common as finance centres outside of, but working, with the EU.”
Dominik Furgler, the Swiss Ambassador to the UK, said: “I am very pleased to sign this TIEA with Guernsey, which will contribute to strengthening the relationship between Switzerland and Guernsey, and further demonstrates Switzerland’s commitment to implementing international standards.”
Commenting on the Hungary agreement—which was signed into agreement by Hungary’s ambassador to the UK, Janos Csak—Harwood added: “I am very pleased to sign this agreement with Hungary, a country which sits at the heart of the EU and is now a long-standing member of the Organisation for Economic Co-operation and Development and the World Trade Organisation.”
Rob Gray, Guernsey’s director of income tax, said: “The signing of these latest TIEAs take 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.”
