Corporate Tax Review public consultation document published

---

---

21st June, The Fiscal and Economic Policy Group1 today publishes its public consultation document for the corporate tax review of the States of Guernsey. The consultation document sets out a series of technical approaches that could be used as a foundation of a revised regime.

The document also provides background to the review; the principles that underpin the review; and the objectives to be met by the outcome of the review. As has been previously publicly communicated, the objectives of the corporate tax review are that any revised tax regime must meet five key criteria. Namely that any revised regime must:

be competitive; be internationally acceptable; sustain Guernsey’s economy; be based on a simple solid rationale; and give rise to reciprocal benefits.

The States resolved in October, 2009, to conduct a review of its corporate tax regime. It has recently been publicly confirmed that, given Guernsey’s commitment to the review process, the CCG has no plans to review Guernsey’s zero/10 regime.

This public consultation period will close at 5pm on August 27th, 2010. Responses will be collated and reviewed and it is the intention for a feedback document to be published during the autumn.

The document can be found at www.gov.gg. Responses can be provided in writing c/o Dr Andy Sloan, States Economist, and Secretary to the Fiscal and Economic Policy Group or online via corporatetaxreview@gov.gg. Hard copies will be provided on request.