On January 28, 2014 H.E. Mr. János Csák, Ambassador of Hungary in London and Sir Philip Bailhache, External Relations Minister of Jersey have signed the „Agreement on exchange of information on tax matters between the Government of Hungary and the Government of Jersey”- announced the Ministry for National Economy.

As a result of agreements on the exchange of tax information, national tax administrations can request information from each other for specific cases thereby limiting the possibility of tax evasion.

The main purpose of the Agreement signed with Jersey is to regulate the tax infomation exchange upon request. The Contracting Parties shall provide assistance through exchange of information (including banking information) that is foreseeably relevant to the administration and enforcement of the domestic laws of the Contracting Parties concerning taxes covered by the Agreement. There is no information yet on the expected  entry into force date.