France removes Jersey from list of uncooperative jurisdictions
A withholding tax is set to be removed on business between Jersey and France, after the island was removed from a list of those considered uncooperative by French financial authorities.
Jersey Finance has confirmed a decision by the French Ministry of Finance to remove the jurisdiction from the list maintained by France, in regards to tax information exchanges.
Jersey has amended its own regulations to speed up responses to requests from French authorities under the existing Tax Information Exchange Agreement (TIEA).
Geoff Cook (pictured), Jersey Finance CEO, said: “The confirmation of Jersey’s removal from France’s list of non-cooperative jurisdictions and the consequence that business between Jersey and France will not be subject to a withholding tax, is very welcome news indeed from a finance industry point of view.”