Qatar to sign double tax deal with Jersey
Doha, March 20, 2012
Qatar has signed a double taxation agreement (DTA) with a high-level official delegation from Jersey, the biggest of the Channel Islands off the French coast.
The delegation, which is on a visit to Qatar, is being led by Jersey Senator, Sir Philip Bailhache, Assistant Chief Minister with responsibility for external affairs.
The visit and signing of the agreement further signifies the growing commercial ties between the two countries.
In addition to the DTA signing, the visit will involve meetings with senior government and regulatory officials and leading practitioners in Doha.
Commenting on the deal, senator Bailhache said: “This signifies the growing importance of relationship between the two countries and supports Jersey’s objective of signing agreements which allow for appropriate levels of information exchange and transparency, while at the same time protecting important privacy rights for firms and individuals.”
“The agreement makes it easier and more straightforward to conduct business between Jersey and Qatar and will therefore play an important part in encouraging increasing business flows between the two jurisdictions,” he noted.
The DTA with Qatar is one of a number of initiatives led by not-for-profit organisation Jersey Finance.
In 2011, the organisation also facilitated through an arrangement with the Qatar Finance and Business Academy, an internship programme involving two banking professionals from Qatar who spent time with financial services organisations both in Jersey and the City of London.
Sean Costello, chief representative of Jersey Finance Limited for the region, said, “This latest visit in conjunction with the Jersey Government, and led by Sir Philip, is an important step forward in building the relationship between the authorities in Qatar and Jersey.'-TradeArabia News Service