The Chief Minister will table an answer to the following question asked by Deputy G.P. Southern of St. Helier today:
"Does the Chief Minister welcome the resolution of the European Parliament to call on EU member States to take action on tax avoidance and evasion (which condemns tax competition; demands better company registrars and registers of trusts; demands full country-by-country reporting; demands more resources for tax authorities; condemns the use of tax havens and in particular highlights the need to generalise automatic information exchanges and to extend the scope of the Savings Taxation Directive in order to effectively end banking secrecy)?
Will he inform members what actions, if any, he will take to demonstrate his willingness to co-operate with such initiatives?"
There will, of course, be much blustering about the Parliament resolution not being binding, and so on.
But the reality is Jersey is being swept along now with pressure from the USA and EU that is beyond its power to resist. How it will react is key to the well-being of the people of Jersey and yet nothing seems to be happening bar more investment in finance.
It must be a troubling time to live in Jersey.
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
Yes. Immensely.
It’s crisis time for Jersey!
“But the reality is Jersey is being swept along now with pressure from the [..] EU that is beyond its power to resist”
There is no pressure from the EU because as you have yourself pointed it out, none of these resolutions are binding. All of it, except for some limited version of country-by-country reporting, will be instantly shot down at ECOFIN, assuming it even ever gets on the agenda there.
Let me assure you – I am icreasingly told that the shortage of tax completelky changes that, for good