Island faces EU tax review over zero-ten
Tuesday 1st June 2010, 2:58PM BST.
Chief Minister Terry Le Sueur
JERSEY faces a review by the EU Code of Conduct Group on Business Taxation in September over the discredited ‘zero-ten’ corporate tax system.
The review had not formally been announced in Jersey, but the news slipped out because Guernsey is celebrating avoiding the assessment by committing early to a 10% corporate tax rate across the board.
This morning, Chief Minister Terry Le Sueur confirmed that there would be an assessment of the corporate tax system by the EU in September.
He said: ‘Jersey is going to have its tax system assessed and as far as I am concerned that is fine because it actually gives us greater clarity.’
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Makes me laugh that the EU are reviewing a taxation system which was largely created by the Germans during the occupation!
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As the Truthseeker said before..we are going to have to have 10% same as Guern…our policy has failed….why wait to have your nose rubbed in it….?
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‘Jersey is going to have its tax system assessed and as far as I am concerned that is fine because it actually gives us greater clarity’ – and what if the greater clarity reveals it is not acceptable to the EU?
And, is he aware that when the new EU Funds Directive is enacted, one of the equivalence tests is likely to be comparison of tax regimes.
Nothing to worry about (yet again) then!
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Greater clarity – dont you mean that someone who knows what they are doing will be able to tell you how to do your job properley and you can blame them if noone likes it!!!!
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Interesting that we had to wait for Guernsey to let it slip before we found out. Yet another shining example of open and transparent government. Why can’t Terry swallow his pride and admit that he got 0/10 Tax wrong from the start? It is crippling the Island’s finances and branding us as a rogue tax haven in the EU Zone.
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