Jersey and India fail to sign planned TIEA
21 March 2011
Last Friday's planned signing of a tax
information exchange agreement between Jersey and India was
postponed for reasons unknown.
The signing ceremony has been in preparation
for months, being the highlight of a Jersey trade mission to Mumbai
and Delhi. It was to be conducted by Jersey's treasury minister,
Philip Ozouf, and India's revenue minister Shri Palanimanickam.
But according to a report in the Jersey
Evening Post, some unnamed Indian officials were "not happy" with
the text of the document, and are insisting that it be
re-drafted.
Senator Ozouf declined to comment, but a
statement from Jersey Finance said the delay in signing a TIEA
"will not have an impact on business flows between Jersey and India
or planned future growth."
"We have every confidence that the agreement
will soon be in place", said Jersey Finance chief executive Geoff
Cook.
• During the same trade delegation, Jersey
Finance established a representative office in Mumbai staffed by a
dedicated business development team. The team is led by Sean
Costello who will also oversee Jersey Finance's new operations in
Abu Dhabi, opened this month.
Sources
Jersey Evening Post
International Adviser
Jersey Finance