July 3, 2022

Senior Guernsey politician says new finance report is ‘littered with errors’

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From itv UK

A senior politician in Guernsey says a new finance report is ‘littered with errors’.

The Financial Secrecy Index, published by the Tax Justice Network, ranks jurisdictions according to the level of secrecy and their offshore financial activities.

Guernsey was included in the top ten, along with the Cayman Islands, Luxembourg and Germany.

It also includes six territories that are eligible for inclusion in the EU’s own tax haven blacklist – Switzerland, Cayman Islands, Honk Kong, Taiwan, United Arab Emirates and Guernsey – but which have only found their way onto the EU’s “grey list”.

But the Vice-President of Guernsey’s Policy & Resources Committee, says the amount of errors in the report makes it ‘frankly comical’.
As anyone who works in financial services will surely attest, this particular organisation has little or no credibility – as such we see no value in the report or commenting on it in detail.

We have had no direct contact from the Tax Justice Network asking for information about what we do and how we do it – they have a partial view and they have used it to support their own political agenda.

The international community recognises that Guernsey meets every single international standard of tax transparency and information exchange.

The EU Commission recently reaffirmed that we are a co-operative jurisdiction, and therefore any suggestion that we are a tax haven is nothing more than political spin.

– DEPUTY LYNDON TROTT, VICE-PRESIDENT OF THE POLICY & RESOURCES COMMITTEE

For more on this story go to: http://www.itv.com/news/channel/2018-01-31/senior-guernsey-politician-says-new-finance-report-is-littered-with-errors/

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