Guernsey and Malta have signed a Double Tax Agreement

Guernsey and Malta signed a comprehensive Double Taxation Agreement on the 12^th March 2012. The agreement was signed by Guernsey’s Chief Minister Lyndon Trott and Malta's High Commissioner to the United Kingdom Joseph Zammit Tabona.

The Agreement, based on the OECD Model Tax Convention, will allocate the right to tax different types of income between the state of residence of the owner and the state from which the income is sourced. This protects against the double taxation of the income, thus removing tax impediments to trade and investment.  The Agreement also reflects the OECD’s stand on tax transparency and information exchange in taxation.

This makes it the first Double Taxation Agreement that Guernsey has signed which is in line with the OECD.