Guernsey – Meeting Its Responsibilities To Taxpayers

Building on his recent interview with Hayley Dixon of The Sunday Telegraph where he said a lack of 'balance and objectivity' in the coverage of the so-called 'Paradise Papers' hack had distracted attention away from the real debate of how to ensure tax transparency, Guernsey Finance Chief Executive Dominic Wheatley shares his thoughts on Guernsey's current approach.

There is emerging consensus and a developing partnership approach to combating harmful tax practices. This is clarifying the boundaries of acceptable practice and the roles of the various parties.

Our role as an international finance centre is fourfold:

Firstly, not to tax the revenues generated from economic activity elsewhere or the income of those tax resident in other jurisdictions. This principle of tax neutrality is important in ensuring that tax revenues are available to the tax authorities to whom they are due without leakage.