Island faces EU tax review over zero-ten

By Ben Quérée

Chief Minister Terry Le Sueur

JERSEY faces a review by the EU Code of Conduct Group on Business Taxation in September over the discredited ‘zero-ten’ corporate tax system.

The review had not formally been announced in Jersey, but the news slipped out because Guernsey is celebrating avoiding the assessment by committing early to a 10% corporate tax rate across the board.

This morning, Chief Minister Terry Le Sueur confirmed that there would be an assessment of the corporate tax system by the EU in September.

He said: ‘Jersey is going to have its tax system assessed and as far as I am concerned that is fine because it actually gives us greater clarity.’

Article posted on 1st June, 2010 - 2.58pm