THE finance industry has welcomed news that Guernsey will carry out a joint review of Europe’s corporate tax regimes.
Chief Minister Lyndon Trott announced in the States yesterday that the study would be carried out with the help of Jersey and the Isle of Man.
John Heaume (pictured), from the Guernsey International Business Association, said it would make companies more confident about doing business in the island.
‘Giba welcomes this statement, which helps us to share an authoritative word with professional advisers in London and elsewhere who have become nervous about the uncertainty of Guernsey’s apparent position.’
The chief minister said a timetable for a review of the island’s tax strategy would be published and it was presumed a 10% levy would replace the zero tax rate.
Chamber of Commerce president Paul Luxon said members had been receiving updates about tax strategy from the Treasury and Resources Department, as had other business groups. He was happy with the rate of progress so far. ‘Clearly this will take some time to sort out and there is no urgent rush.’
Article posted on 26th February, 2010 - 11.29am
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