Guernsey signs tax-sharing deal with UK

Related Stories

Tax information could automatically be exchanged between Guernsey and the UK in the future due to a new agreement.

It comes as the UK signs a similar deal with Jersey and agreed one with the Isle of Man earlier this month.

The States of Guernsey also expects to sign a similar agreement with the United States.

A States spokesman said the agreements showed the island's "commitment to tax transparency and meeting international standards on tax information exchange".

'Global reputation'

Both deals would need to be ratified by the States before they come into force.

The agreement is based on the Foreign Account Tax Compliance Act and was signed by Guernsey's Chief Minister Peter Harwood and the UK's Exchequer Secretary to the Treasury David Gauke.

Deputy Harwood said: "The two agreements with the UK and the US have been supported by our [finance] industry, being key to a sustainable future for the finance sector and securing our global reputation for tax transparency.

"[Our] approach to US and UK reporting will provide our industry with a very strong platform to compete on the world stage against weaker, less transparent jurisdictions."

Guidance for the industry on reporting tax information is due to be published once the deal with the US has been agreed.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

BBC Guernsey

Weather

Guernsey Airport

Min. Night 18 °C

Features

  • NS Savannah, 1962Nuclear dream

    The ship that totally failed to change the world


  • Espresso cup7 days quiz

    Which city serves the strongest cup of coffee?


  • Glasgow 2014 quaichs and medalsQuaich guide

    What do the Scottish gifts given to Games medallists symbolise?


  • Malaysian plane wreckage in UkraineFlight risk

    How odd is it for three planes to crash in eight days?


  • israel flagDos and don'ts

    Can you criticise Israel without being anti-Semitic?


BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.