Ten per cent tax for all?
Friday 9th November 2012, 11:42AM GMT.
THE Channel Islands should consider moving away from having a zero rate of corporate tax and look toward a ‘fairer and simpler’ system, according to the presidents of the Jersey and Guernsey Chambers of Commerce.
David Warr ‘floated’ the idea of having a flat rate of ten per cent tax for companies and individuals when he spoke at the Chamber’s monthly lunch at the Pomme d’Or Hotel on Wednesday.
Mr Warr said that tax law should be ‘simple and fair’ and asked if it was fair that businesses did not pay corporate tax.
He said he had been talking about the current zero-ten tax regime over lunch with his Guernsey counterpart, Rupert Dorey.
‘We felt that ten per cent would be fair and we thought that it would be worth floating the idea out there to see what people think,’ he said.
He said that the recently published States Budget included 50 pages of new tax law and made the comments while introducing the main speaker, renowned business leader Allan Leighton, the former chief executive of Asda and former chairman of the Royal Mail.
Full story in Friday’s JEP