UK Government Confirms Guernsey Fiscal Independence
U K Treasury Minister Dawn Primarolo, giving evidence to a House of Lords EU Economic Committee, said that the 'dependent territories' (ie the Isle of Man, Jersey and Guernsey) would not be bound by any action the Government took in relation to the EU's 'Code of Conduct' aimed at eradicating 'unfair tax competition'. She had made a similar statement when the Government set up its joint working party on EU tax reform earlier in the month. At that time, the Minister said that of the 200 tax breaks being examined by the Brussels ministerial group (which she chairs), only 5 involved the UK; she would not commit herself on whether the 200 included any 'UK dependent territory' tax breaks. .
|
|
IMPORTANT NOTICE: TAX-NEWS.COM has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright TAX-NEWS.COM 1999 to 2007. Contact us for further information.