Channel Islands set to follow auto info exchange path

Both jurisdictions believe the move to automatic exchange of information is the next rational step, following the Isle of Man's decision to prohibit bank accounts from withholding tax details from the IoM's tax authorities or an individual's member state. The move to automatic exchange of information is part of shift to the European Union Savings Directive (EUSD). Peter Niven, chief executive of Guernsey Finance, expects Guernsey to follow the Isle of Man's lead in the "next few weeks or months" and believes the island should have implemented automatic exchange of information "a long ...