Guernsey signs tax agreement with Malta
Guernsey and Malta have signed a Double Taxation Agreement (DTA). The agreement was signed by Lyndon Trott, Guernsey’s chief minister, and Joseph Zammit Tabona, Maltese high commissioner to the UK.
This is the island’s third extensive DTA – the other two being with the UK and Jersey – and the first to be based on the OECD model convention. Guernsey is expecting to sign further DTAs with Qatar, Bahrain, Singapore, Hong Kong, Jersey (revised) and the Isle of Man in the coming months.
Rob Gray, Guernsey’s director of Income Tax, who leads negotiations on tax agreements, said: “This is another significant step in the development of Guernsey’s international identity, and in Guernsey’s ongoing commitment to tax transparency. This DTA strengthens Guernsey’s relationship, politically and economically, with an EU Member State and demonstrates our determination to continue to meet the highest international standards.”
On March 12 the chief minister signed a Tax Information Exchange Agreement (TIEA) with Turkey at the Turkish Embassy in London. This is the island’s 35th TIEA, and the 14th that the Island has signed with a G20 state.