Island came close over US ‘offshore secrecy’ label
Saturday 16th July 2011, 2:29PM BST.
MISTAKENLY being blacklisted would have been highly damaging to Guernsey’s financial reputation, the Chamber of Commerce president has said.
Chief Minister Lyndon Trott recently returned from Washington where – thanks to earlier discussions – Democrat Senator Carl Levin unveiled a modified bill no longer listing the island as an ‘offshore secrecy jurisdiction’.
Julian Winser (pictured) said Deputy Trott’s achievement was ‘absolutely tremendous’ and a testament to the fact he had been working with all people around the world.
‘The USA has credibility in global business and it was one of President Obama’s personal advisers that was talking about tax havens,’ he said. ‘A lot of people listen to him and when you are on the blacklist, it is not easy to shake off no matter how hard you try.’
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I thought Guernsey was on the OECD’s white list, or are we playing the finance game to American rules this month?
But it’s good to see ” …. the USA has credibility in global business”. Autumn 2008, with the demise of Lehman Bothers et al, seems like ancient history now.
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White list … Black list,presumably intended to convey the meaning that one is good and the other is bad
Is this sailing close to being a racist crime … especially in the UK where anyone can be offended on behalf of anyone else?
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Official!
Guernsey is just as good as the likes of Turks & Caicos, or Nuaru etc
http://www.telegraph.co.uk/finance/personalfinance/offshorefinance/8645603/Crown-dependencies-celebrate-no-longer-being-on-US-tax-haven-blacklist.html
Like Trott was a factor!!!!
The whole list has been removed to make it broader!
Stick to the scrapbook of ex girlfriends
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Before anyone has a go, the above post was meant to be ‘a bit funny’. It was meant to be mocking the reporting (and the CM by proxy, whom must have fed the lines), and not the issue.
AT no point do I think Guernsey is in anyway similar to the Turks & Caicos, whose government had to be removed and the UK take control after serious abuse of Overseas Territories’ political power by those appointed there.
Bet we were on the same ‘list’, though.
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“Spokesmen for the Guernsey and Jersey governments refused to comment”!!!
http://www.telegraph.co.uk/finance/personalfinance/offshorefinance/8650354/Crown-dependencies-misleading-over-blacklist-removal.html
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It’s quite scary to think that our Chief Minister can be so casual about misleading the electorate.
But not surprising.
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Another piece of spin from the CM’s office;
“Chief Minister’s Washington success as Guernsey removed from “blacklist”
If you read Carl Levin’s statement, it clearly shows that all offshore jurisdictions were dropped from the layout of the new bill, not because of lobbying by the likes of the CM, but because it would make life easier for the US Treasury to police it. Nothing has changed and the US pressure on offshore jurisdictions will remain just as high. The US are just taking a different approach, to suit themselves, in carrying that out.
Read Carl Levin’s statement:
http://levin.senate.gov/newsroom/speeches/speech/levin-floor-statement-on-introduction-of-stop-tax-haven-abuse-act/?section=alltypes
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Arnald
Agreed.The CM has been a stand out leader amongst others in his disdain for the electorate
Borrowing words from Laurence Binyon …
At the going down of the sun,and in April,we will remember them
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I imagine the real reason for LT’s visit was to push Concept’s QROPS scheme, it wouldn’t be the first time that’s for sure!!!
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