A few open questions for Jersey

Posted on October 10 2012

I gather that the higher echelons of power were pleased by my commentary on their press release on FTACA yesterday - which by some oversight they forgot to send to me direct - and so I thought I'd ask them a few follow up questions that seem to logically flow from their declaration of enthusiasm for full and open information exchange, with the USA alone. So let's try these:

Has the OECD asked you to join the multilateral Convention on Mutual Administrative Assistance in Tax Matters, and if so, what was your reply?
Has the UK asked you to move to automatic information exchange under the European Union Savings Tax Directive, and if so, what was your reply?
Has the UK now asked you formally to give them a FATCA equivalent automatic information exchange system, and if so, what was your reply?

I'll happy to post any responses the powers that be in Jersey want to supply, in the interests of their commitment to transparency, of course.

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One Response

Premier Sharehoders Group says:

October 10 2012 at 9:11 am

Jersey’s political class has developed a vested domain above the general interest of the island’s inhabitants and via the finance industry (which it sustains through a structure of ultra-secrecy) it has become an extractive elite, bleeding the country of alternative resources and depriving its people of a lasting future.

Full legal reform is needed to strip the island of the bizarre Crown Dependency nomenclature and all the associated razzmatazz that conceals financial tomfoolery. Make the island’s administrators accountable to building a sustainable future instead of relying on the parasitic finance industry, banks and tax shysters.

As for posting responses from the “powers-that-be” – don’t hold your breath.
At least not until the words “open questions” begin to have some meaning on the island.