Guernsey tax evasion rules start 1 August

Guernsey has confirmed rules intended to limit tax evasion between OECD countries will take effect on the island from 1 August.

The OECD and Council of Europe’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters is a set of rules that the worl’d’s most developed economies have agreed to clamp down on tax evasion.

Adopting the measures means that Guernsey can continue to position itself as an international financial centre that is committed to “highest international standards of tax transparency,” sayd Fiona Le Poidevin, chief executive of Guernsey Finance – the promotional agency for the Island’s finance industry.

These measures follow the more than 60 tax information and exchange agreements and double taxation agreements that Guernsey has signed with other jurisdictions.

 

 

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