Guernsey has much to offer when it comes to a clear and
transparent tax system and high standard of regulation, according
to Sara Bourne - Chairwoman of ICSA: The Governance
Institute's Guernsey branch and Deputy Managing Director at Carey Group - in
the Guernsey Press' Q2 2018 Business
Review.
Globalisation has brought with it many benefits, but it has also
brought opportunities for obfuscation, with some multinational
companies using base erosion and profit shifting (BEPS) tax
planning strategies to shift profits to locations where taxes are
low or non-existent but the company does little or no real
business. This is all set to change with the introduction of the
Organisation for Economic Cooperation and Development's BEPS
Action Plan, which sets forth 15 actions to ensure that the global
tax architecture is equitable and fair based on three core
principles: coherence, substance and transparency.
