'Guernsey is the island that relies most on direct taxes'
GUERNSEY has been named as the island which relies the most on direct taxes in a newly released report focused on government income and expenditure trends.
At 76%, the island was ahead of Jersey and Malta in Island Global Research's Island Monitor report, which raised ideas for dealing with a weakening global economy and balancing the direct and indirect taxes.
The continual struggle to achieve sustainable economic growth was also highlighted.
Deputy Gavin St Pier, president of the Policy & Resources Committee, has previously spoken out about the island's heavy reliance on direct taxes, such as income tax.
Overall, out of the 25 jurisdictions monitored, Jersey was ranked second with 67% and Malta third with 61%.
Just under 40% of the Isle of Man's government revenue is generated from direct income.
Statistics in the report also showed that 19% of government revenue in Guernsey was generated from indirect income, such as customs and excise duties/tax and stamp duty. By comparison, the Isle of Man's figure stood at 58%.
