Guernsey Press

'Blacklisting' only went to prove island's compliance

RELIEF has greeted the news that Guernsey no longer appears on a EU tax 'blacklist'.

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The EU Commission has confirmed that it views the island as co-operative after sustained lobbying since it published a list in mid-June with Guernsey alongside 29 other 'non-cooperative' jurisdictions.

It has renamed the list the 'tax good governance in the world as seen by EU countries'.

Deloitte partner and head of offshore tax Jo Huxtable said although the listing sounded negative, it has neatly turned out to disprove Guernsey's apparent non-compliance.

'Ironically there were never any practical implications of being on such a list and as it turns out it has been a great opportunity to have our reputation and international status validated in this way,' she said.

'It would be naive to say it has not had the potential to cause damage; when considering where to do business, people's decision can come down to a small number of fine points and if other competitor jurisdictions can say we are on a "blacklist", they may do.

'Also, the term "blacklist" clearly sounds negative so it is to be welcomed if people are now using positive words – even if the headline title is a little long-winded.'

Chamber of Commerce president Tony Rowbotham, pictured, was delighted.

'Our position is that it is brilliant news, Guernsey is one of the most regulated jurisdictions in the world.'

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