Jersey - not cows

When I think of Jersey and Guernsey, I think of cows.  

But these are also two jurisdictions that are consider tax havens.  

Just because you invest in a company that is located in a tax haven, does not mean that you are avoiding tax.  If you are properly reporting income from those investments in your home country that requires worldwide income to be reported.

As well as having tax laws that are favourable to non-residents, they are "secrecy jurisdictions" where it was very difficult, if not impossible for other governments to determine if their domestic tax laws were being followed by investors in these countries.

Canada will now be able to get the information necessary to make those determinations - the Tax Information Exchange Agreement between Canada and Jersey was signed January 12.  

An agreement with Guernsey is still being negotiated.