I have been asked to put up a link to my 2005 report prepared for a shadow scrutiny committee of the States of Jersey on its compliance with the EU Code of Conduct on Business Taxation. This is it.
As I say in the executive summary:
[T]his proposal reproduces the ring fence that exists under existing Jersey tax law which has largely ensured that only companies owned by Jersey residents have been taxed whilst companies owned by those who were not resident have, in the main, not been taxed. It does so to protect domestic tax revenues. As such this provision contravenes section B2 of the Code.
In addition, the inclusion of de minimis rules to allow the partial operation of this rule allows tax to be paid, or not, depending upon arbitrary rules which have inherent within them the possibility of the law being flouted in contravention of section B5 of the Code;
The EU has now confirmed I was right.