Guernsey Corporate Tax Review
Posted: 22 June 2010Public consultation document released
As you will no doubt be aware, Guernsey, along with the other Crown Dependencies has been under renewed assault recently with regard to its corporate tax rate known as "Zero-10" where most companies are taxable at a rate of 0%. This has been deemed as not compliant with the 'Spirit' of the EU Code of Conduct on Business Taxation. Guernsey took the bold early step of announcing a review of its corporate tax regime on the basis of this. A Public Consultation Paper was released on 21 June 2010 to inform and invite comments, opinion and analysis on possible alternatives. The paper in full can be found here. Guernsey's commitment to review its regime has led to our avoidance of a review by the 'EU Code of Conduct Group on Business Taxation', a fate not shared by Jersey and the Isle of Man whose reviews will commence in September 2010 and demonstrates Guernsey's commitment to co-operating with our international neighbours whilst seeking to preserve our own economic security.
