Panorama interviews C&E minister for ‘tax dodge’ documentary
Monday 26th November 2012, 1:03PM GMT.
PANORAMA investigators were shown the statistics to back up Guernsey’s claim that the Bailiwick is now unattractive to people trying to commit fiduciary crimes, the Commerce and Employment minister has said.
Deputy Kevin Stewart, pictured. was interviewed for the programme ‘Undercover: How to Dodge Tax’, which is set to be broadcast on BBC One tonight.
A journalist from the show wanted to know the history of the ‘Sark Lark’ –- whereby island residents held a large number of paid directorships for companies they knew little about – and what Guernsey had done to stop it.
Deputy Stewart said the Bailiwick was one of the first jurisdictions to legislate for the fiduciary sector, requiring the regulator to grant a licence to anyone wishing to hold such directorships.
He said that move more than a decade ago had lowered the number held in Sark from 15,000 – equivalent to 25 for each man, woman and child in the island – down to about 50 in total now.
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