**The Nordic Council of Ministers** says it will sign agreements with **Jersey** and **Guernsey** on Oct. 28, on the occasion of the next finance ministerial meeting in Helsinki.
The agreements will cover information exchange and the avoidance of double taxation. Project leader Torsten Fensby said the information exchange deals with the Channel Islands is part of their bid to fight tax evasion. Sweden’s National Tax Board estimates tax evaders hiding assets abroad cost it about 46 billion kronor (US$7.6 billion) a year in tax revenues.
The association of Nordic countries concluded a package of Tax and Information Exchange Agreements (TIEA) with the Isle of Man last October. At that time, Manx Treasury Minister Alan Bell noted that *”Fiscal agreements, in particular, foster bilateral trade and investor confidence in both countries.”*
The Nordic countries started joint negotiations in July 2006 to conclude tax information exchange arrangements with jurisdictions that have made a commitment to apply the OECD standards on transparency and exchange of information in the tax area. The Nordic Council comprises Norway, Sweden, Finland, Iceland, Denmark, Greenland and the Faroe Islands.
The Council says the information exchange agreements are being signed to give the tax authorities access to information about capital investments and incomes of tax evaders, and that the Nordic cooperation in this area provides extra force to the negotiations and reduces costs.