Guernsey loses argument on zero-10 regime

While the Code of Conduct Group has ruled similarly on the zero-10 regimes of both Jersey and the Isle of Man, Guernsey had argued that the deemed distribution element of its own zero-10 tax regime* was different to the Jersey and Isle of Man regimes, and was compliant with the Code Group’s criteria. However, the EU viewed it differently. On receiving the news Guernsey’s Policy Council issued a statement saying, “Whilst accepting the operation and timing of Guernsey’s deemed distribution regime differed to that of Jersey and the Isle of Man, the European Union’s Code of Conduct Group on...