FURTHER support for a territorial system of taxation has been announced following the end of the public consultation process on a tax strategy replacement last week.

And although the Guernsey International Business Association believe a territorial approach is the best option on the table they have echoed the sentiments of Guernsey Chamber of Commerce president Julian Winser that the island should take its time in making any sort of declaration as to what it is replacing zero-10 with, after it was revealed back in October that certain EU member states did not believe the tax strategy was in the spirit of the EU code of conduct.

‘Based on an initial review, Giba believes that, if the present tax system has to change, then a territorial system would appear to be the best option,’ said Giba chairman Paul Meader (pictured).

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