Agreement on the exchange of Tax information signed by the Czech Ambassador and the Prime Minister of Guernsey
15.09.2011 / 13:36
The agreement between the Czech Republic and the Government of Guernsey on Information on Tax matters was signed by Ambassador Žantovský and the Prime Minister of Guernsey Lyndon Trott in London on 15th September 2011.
Ambassador Žantovský appointed and vested with full powers by the President of the Czech Republic signed with Mr. Lydon Trott, the Prime Minister of Guernsey, an Agreement on the Exchange of Tax information. The signing ceremony took place at the Czech Embassy in London on September 15th 2011.
During the signing ceremony Prime Minister Trott mentioned that the financial sector in Guernsey is a key element of the island’s economy, directly contributes to more than 40 percent of its GDP and represents 70 per cent of its exports in services. Guernsey has already signed 26 similar agreements with other countries.
The Czech Republic, by signing this agreement, is following the positive experiences gained in cooperating in the international exchange of tax information. It is also complying with recommendations made by the Organisation for Economic Cooperation and Development (OECD) and the European Union. The Agreement allows the Czech tax authorities to obtain information, important to managing the collection of taxes, and to investigate irregularities and tax evasion.