Guernsey has signed Tax Information Exchange Agreements (TIEAs) with Italy and Latvia.

The bilateral agreements were signed on 6 September and they mean that Guernsey has now signed a total of 37 TIEAs.

Guernsey’s chief minister, deputy Peter Harwood (pictured), says: “Our relationships with the Member States of the European Union are of paramount importance in helping Guernsey protect and promote its interests. Each TIEA that we sign with EU members is a further indication of Guernsey's constructive relationship with EU Member States, and of those Member States' endorsement of Guernsey's commitment to tax transparency.”

Harwood signed both TIEAs on behalf of Guernsey. The agreement with Italy was signed by the Italian Ambassador to the UK, HE Alain Economides.

“Italy is the eighth largest economy in the world, and it is a founder member of the EU and the G8. Italy is influential in the EU, not least on economic issues. Aside from signing the TIEA, the meeting with the Ambassador was a timely opportunity to re- emphasise Guernsey's commitment to information exchange and meeting international standards. I also hope that it will signify a strengthening of economic and political ties between Guernsey and Italy,” says Harwood.

The TIEA with Latvia was signed by the Latvian Ambassador to the UK, HE Eduards Stiprais.

“We have strong links to Latvia, not least through the Latvian community in Guernsey. Signing this agreement strengthens our relationship with Latvia in a formal way, and I am sure that the relationship between our two jurisdictions will continue to be positive,” adds Harwood.