Download UK and Jersey Letter Exchanges (size 60kb) A TIEA is a bilateral agreement with which jurisdictions agree to cooperate on tax matters through the exchange of information. Tax Information Exchange Agreements (TIEA) provide for the exchange of information on request in the context of a specific criminal or civil tax investigation or civil tax matter under investigation. [1] A TIEA model has been developed by the OECD Global Forum Working Group on Effective Information Exchange. Jurisdictions can also use the text of the articles in the model protocol if they wish to include the automatic and spontaneous exchange of information in a new TIEA. Under the convention model, the exchange of information is only on request (as opposed to the automatic or spontaneous exchange of information) and each TIEA sets out guidelines and criteria by which the applicant must submit its request for information. The applicant can only request information that is predictable for the management and application of its legislation. It is not authorized to conduct fishing expeditions or to request information that is probably not relevant to a particular taxpayer`s tax issues. They help governments enforce national tax laws by allowing the exchange of relevant tax information on request. Unlike double taxation conventions, TIEAs do not always eliminate double taxation of income. In this regard, legal systems may be based on a bilateral agreement between the competent authority for the implementation of the automatic exchange of information in accordance with the common standard of notification or automatic exchange of reports by country on a TIEA, particularly in cases where it is not (yet) possible to automatically exchange information through the relevant authority within the framework of a relevant multilateral agreement. Jersey can also exchange tax information with other countries under the double taxation conventions, the multilateral convention and with EU member states under the EU Savings Tax Directive. Jersey has signed a number of TIEAs based on this OECD model that allow us to send and receive tax information with more than 30 countries.

This figure is expected to increase over time. All agreements have been signed and ratified, unless otherwise stated. The legality of intergovernmental agreements (IGAs) has been called into question on the grounds that any agreement between governments binding each government is a treaty. Since the U.S. Constitution does not allow the executive branch to unilaterally implement treaties without Senate approval, many argue that IGAs have no basis in the U.S. Constitution. [3] IGAs were not described or provided for in fatca laws, but were designed and implemented on the basis that it became clear that fatca would fail without it. [4] This exchange of information on request was completed by an automatic procedure on 29 October 2014. [2] The automatic process must be based on a common reporting standard. (b) to provide information that cannot be obtained under the law or in the normal course of administration of the State party concerned or the other State party concerned; Most TIEAs are based on the OECD`s model of agreement on the exchange of information on tax issues (convention model) published in 2002.

Tax information exchange agreements (TIEA) are signed by two countries that agree to cooperate on tax matters through the exchange of information. Jersey has been exchanging information with other countries since 2007 using TIEA. Download Australia and Jersey Exchange of Information Agreement (Size 577kb) Download Australia and Jersey mutual agreement procedure (366kb) This agreement, published in April 2002, is not a binding instrument, but includes two models of bilateral agreements. Many bilateral agreements are based on this agreement (see below).