EU tax policy: ‘Jersey will reach a fork in the road’

Thursday 30th June 2011, 3:00PM BST.

Lawyer Richard Hay

A LEADING expert on international taxation has warned that Jersey will have to decide to either work with, or break away from the European Union in determining the best future route for its finance industry.

Lawyer Richard Hay, the international tax principal at the London headquartered legal firm Stikeman Elliott, was addressing the Island’s first conference on private wealth management held this week.

He told delegates attending the event at the Royal Yacht Hotel that Europe ‘plays a long game’ on tax matters and was ‘forcing’ nearby countries to adopt EU tax policy.

He said the fact that the Island had taken into account EU concerns when negotiating the zero-ten tax package created a perception elsewhere that Jersey was ‘falling into line with EU tax policy’.

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