24 January 2013
New DTAs between Guernsey, Jersey and the Isle of Man
The Guernsey Association of Pension Providers (GAPP) welcomes today's announcement that the governments of Guernsey, Jersey and the Isle of Man have signed Double Taxation Agreements between each of the three Islands.
Among other benefits, these DTAs for the first time give clarity of income tax treatment for members of Pan-Island Pension Plans and confirm that, where a plan member has worked only in one of the three territories, he or she will only be liable for income tax on pension income in that territory, regardless of which Island the pension plan is based in.
President of GAPP, Stephen Ainsworth, said “This cooperation between the Crown Dependencies is a very positive move and supports businesses with pension plans which operate across the Islands.”
The Guernsey Association of Pension Providers is an association of pension providers, pension trustees and others with an interest in pensions established to foster and promote pension arrangements in Guernsey.
The States of Guernsey is a self governing dependency of the British Crown. Further details of the announcement by the States of Guernsey are available from its website at http://www.gov.gg/article/105519/Taxation-Co-Operation-Agreements-signed-with-Jersey-and-the-Isle-of-Man