The EU Commission has confirmed its continued endorsement of
Guernsey as a cooperative jurisdiction following a meeting between
officials in Brussels.
This news was welcomed in Guernsey, which has a strong record in
meeting international standards as a cooperative and highly
transparent jurisdiction - including as an 'early adopter'
of the Common Reporting Standards ahead of some European
countries.
Responding to the news, Guernsey's Chief Minister, Jonathan
Le Tocq, has written to European Tax Commissioner Pierre Moscovici,
stating: "Guernsey welcomes the Commission's confirmation
at the meeting that it considers Guernsey to be a cooperative
jurisdiction. This recognises not only Guernsey's adherence to
the OECD and Global Forum international standards on transparency
and information exchange, but also that our corporate tax regime
has been assessed as compliant with the EU's Code of Conduct on
Corporate Taxation, and hence not containing harmful
measures."
