1. ITV Report

Jersey and Guernsey not on EU tax blacklist

Credit: Credit: Jaap Arriens/SIPA USA/PA Images

Jersey and Guernsey have not been included in the EU's register of “blacklisted” jurisdictions.

The EU Code of Conduct Group on Business Taxation have deemed the islands cooperative tax jurisdictions.

The status was approved by the EU Finance Ministers of the Economic and Financial Affairs Council in Brussels this morning.

It follows an intensive year-long screening process of 92 jurisdictions.

This outcome reflects the Island’s commitment to the highest standards of tax transparency and information exchange. We cooperated fully with the Code Group throughout the screening process, and have actively pursued a good neighbour policy in our relations with the EU. These positive interactions have borne fruit.

– Chief Minister of Jersey, Senator Ian Gorst

Guernsey is choosing to continue to meet EU tax good governance standards. This means that there should be no reason for the EU to have concerns over Guernsey as a location into which the European Investment Fund can continue to comfortably invest, nor to have any tax related concerns when considering our access to the EU market in the future on the basis of equivalence, when provided for in EU legislation.

– Chief Minister of Guernsey, Deputy Gavin St Pier