Paradise Papers – Guernsey in 'right place' on tax transparency
GUERNSEY is 'in the right place' when it comes to tax transparency, said the chief executive of Guernsey Finance in the wake of stories emerging about how a leak of millions of documents has revealed how a number of high profile individuals have made use of offshore tax jurisdictions.
The Queen is among those who have had their investments made public, along with rock star Bono, former Tory treasurer Lord Ashcroft and the owners of Everton and Arsenal football clubs.
But neither Guernsey nor Jersey have been named in connection with any of the cases highlighted.
Guernsey Finance chief executive Dominic Wheatley said it was important to realise that the people talking about these cases are not talking about Guernsey, but about other jurisdictions.
'It's unfortunate if people are misusing offshore arrangements for the wrong purposes,' he said. 'But a lot of what is being said is just about conducting business offshore.
'Guernsey has made sure we are in the right place with regard to tax transparency and unfair tax practices.'
