Finance crisis talks
Monday 26th November 2012, 3:00PM GMT.
AN emergency delegation is flying to London for talks after news emerged of a dispute with the UK about an anti-tax evasion treaty which could have severe implications for the finance industry.
Chief Minister Ian Gorst has confirmed that the UK is threatening to block a major deal that would see information about all US citizens’ bank accounts in Jersey handed to their tax authorities.
It is because the UK wants the same information about its residents with accounts held in the Island.
It is a demand that is widely regarded as the latest attempt to crack down on so-called ‘tax havens’ and the dispute threatens to become a serious issue if it goes unresolved.