2 0 1 2 2 0 1 3

W O R L DE V E N T S

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February 2002Jersey gives the OECD a political commitment to comply with international standard of exchange of information for tax purposes.

November 2002Jersey’s first tax information exchangeagreement signed with USA.

G20 Communique commits finance ministers and central bank governors to restoring global growth, supporting lending, and strengthening global financial system.

March 2009

G20 Communique reiterates commitment to transparency and information exchange.

June 2012

G20 Finance Ministers endorseCommon Reporting Standard onautomatic exchange of information (AEOI).

February 2014

April 2009G20 leaders issue declaration on strengthening global financial system and cracking down on tax havens.

September 2008Lehman Brothers files for bankruptcy.

Jersey appointed as one of four Vice Chairs of OECD’s Global Forum Peer Review Group.

September 2009

November 2011G20 Communique reasserts commitment to supporting global recovery.

November 2012G20 Finance Ministers welcome OECD’s work on base erosion and profit shifting.

G8 discusses tax evasion.

June 2013

September 2013UK Prime Minister says Crown Dependencies are not tax havens.

April 2009Jersey reaches 12 tax information exchange agreements and is put on OECD White List.

September 2009Jersey appointed one of four OECD Global Forum Peer Review Group vice chairs, and consequently a Global Forum Steering Group member.

September 2011EU Code of Conduct Group confirms that Jersey’s business tax regime is code compliant.

June 2012Chief Minister publicly states that Jersey has no wish or need to accommodate tax evasion or abusive tax avoidance.

October/November 2012Jersey offers to join OECD, EU, African Tax Administration Forum, and other bodies in helping developing countries to enhance their revenue raising capacity.

Q4 2012Negotiations start on Jersey/US FATCA agreement, helping US authorities reduce tax evasion by US citizens.

March 2013MoU signed with UK for a disclosure facility enabling UK residents with accounts in Jersey to regularise their tax affairs.

May 2013Jersey joins EU member states, and OECD, to agree a single standard for automatic exchange of information, based on US FATCA.

June 2013Sound Business Practice Committee established, with government, industry and financial regulator representatives.

June 2013Jersey agrees to join the OECD/Council of Europe Multilateral Convention on Mutual Administrative Assistance in Tax Matters.

November 2013 Global Forum rates Jersey as ‘largely compliant’ with exchange of information standards in common with the UK and USA.JERSEY COOPERATION AND

TRANSPARENCY TIMELINE

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July 2005Jersey voluntarily enters into savings tax agreements with all EU member states

May 2013Jersey agrees to join G8 in publishing action plan on improving transparency on beneficial ownership.

G8

22 December 2013Jersey/US intergovernmental agreement (FATCA) signed.

22 October 2013Jersey/UK intergovernmental agreement signed.

January 2014For EU Agreements on the Taxation of Savings Income, Jersey decides to replace retention tax with AEOI.

January 2014Jersey appointed one of four vice-chairs forGlobal Forum Automatic Exchange of Information (AEOI) Working Group.

March 2014Jersey signs 44-country joint statement reconfirming position as early adopters of AEOI Common Reporting Standard.

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EUSD

AEOI

March 2014Total of 35 TIEAs and 8 DTAs signed to date.