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Jersey is not a tax Haven

Thursday 12 September 2013

The IMF could have told you, the OECD could have told you, the World Bank could have told you, if you had read the Edwards report you would have known, if you had read the Foot report you would have known, and if you had read the Capital Economics report you would have known.

It’s Official – Jersey is not a Tax Haven!

Yesterday in Parliament the UK Prime Minister confirmed in the clearest possible terms that Jersey and the other Crown Dependencies and Territories are not Tax Havens. 

This is what he said:-

"They all agreed to take the necessary action on tax exchange with the UK, international tax co-operation and beneficial ownership, all of which was set out at the meeting I had with them. I cannot recall the exact timetable off the top of my head, but I will make this point: I do not think it is fair any longer to refer to any of the overseas territories or Crown dependencies as tax havens. They have taken action to make sure that they have fair and open tax systems. It is very important that our focus should now shift to those territories and countries that really are tax havens. The Crown dependencies and overseas territories, which matter so much—quite rightly—to the British people and Members have taken the necessary action and should get the backing for it."

 

Jersey not a tax haven says PM David Cameron from Jersey Finance .

So what is Jersey?

A cooperative, transparent and well regulated international finance centre, supervised and highly rated by the IMF, conforming to the highest international standards on information exchange, cited as cooperative and responsive by the OECD.

A centre that is committed to meeting and exceeding international regulatory standards, through the Basel rules on banking, through the IOSCO principles on securities, and through observance of the international association of insurance supervisors principles.

We are a top drawer International Finance Centre and we are not a tax haven – Don’t believe me?

Ask David Cameron!

Author:   Geoff Cook

Chief Executive Officer  -  Jersey Finance

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