More good news for the Open Market

13th September 2013



It has been widely reported how the Prime Minister recently told the House of Commons that the Crown Dependencies, of which Guernsey is one, have taken action to ensure they have fair and open tax systems. ‘I do not think it is fair any longer,’ David Cameron said, ‘to refer to any of the Overseas Territories and Crown Dependencies as tax havens.’


The statement also spoke of how much, quite rightly, the Crown Dependencies and Overseas Territories matter to Britain.


Guernsey’s Chief Minister, Peter Harwood, welcomes the endorsement stressing that the island has shown leadership on tax transparency, while the Guernsey International Business Association added that Guernsey chooses to maintain a simple taxation regime, which is rightfully a matter for the States of Guernsey to determine openly and legitimately.


This will reflect well on Guernsey’s Open Market, which has already seen a significant increase in confidence and activity this year.