ECOFIN confirms Jersey and the Isle of Man have harmful tax systems

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Unsurprisingly the EU's Economic and Financial Affairs Committee confirmed on Tuesday that Jersey and the Isle of Man had tax systems that did not comply with the EU Code of Conduct on Business Taxation.

Now we await news from the Code Group on their reaction to Jersey and the Isle of Man withdrawing their deemed distribution rules.

And no, I have not heard yet.

But I suspect they'll want more time to examine the detail. I would. The devil was in the detail last time. They're not going to be caught out again, I hope.