Guernsey's Tax System To Be Assessed By OECD

by Philip Morton, Investors Offshore.com

10 October 2008

A senior official of the OECD (Organisation for Economic Co-operation and Development) is to visit Guernsey in order to brief industry on the way in which the organisation is planning to assess jurisdictions for tax purposes, it was revealed on Friday.

In July 2008 the G8, the group of the world’s leading industrial nations, asked the OECD to look at ways of encouraging all jurisdictions to share more tax information.

Since then the OECD has been working with a small group of countries to devise a new way in which individual jurisdictions can be encouraged to enter into more agreements to share tax information.

Proposals were agreed at a meeting of this group held in London on October 1 and 2, 2008.

Mr Donal Godfrey, head of the OECD’s Harmful Tax Practices Unit, will be visiting Guernsey on November 19 to brief industry on what has been agreed by this group.

In his presentation Mr Godfrey will also cover various other related developments including the outcome of a meeting being organised by the French and German governments that is planned for October 21, 2008 which will consider what further actions can be taken to press for an increase in the sharing of tax information.

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