Jersey's Chief Minister to Discuss Tax Transparency in Brussels

Friday 27 October 16:35

Jersey's Chief Minister heads to Brussels to meet with the Permanent Representations to the EU of six Member States:  Cyprus, France, Ireland, Italy, Romania, and the United Kingdom.

The Chief Minister of Jersey, Senator Ian Gorst, will make an official visit to Brussels on Monday 30 October 2017 to meet with the Permanent Representations to the EU of six Member States:  Cyprus, France, Ireland, Italy, Romania, and the United Kingdom.

The visit is part of a series of regular engagements between the Island and EU Member States, and has been organised by the Channel Islands Brussels Office (CIBO). The Deputy Chief Minister of Guernsey, Deputy Lyndon Trott, will also be taking part in the visit.

The topics the Chief Minister will seek to discuss include Brexit, market access for financial services, bilateral relations, and, for Romania, their EU Presidency in the first half of 2019.

Senator Gorst commented: “I look forward to engaging with representatives of EU Member States whilst in Brussels. Given the ongoing Brexit negotiations and present deliberations by the EU Code of Conduct Group on matters of tax transparency, it is a timely opportunity to hear their views and respond to their questions. I want to emphasise the value we place, as an Island, on our relationships within Europe, and that we want these to continue to flourish beyond Brexit.”

The EU Code of Conduct Group is currently assessing around 90 non-EU jurisdictions on tax transparency and economic substance. The Government of Jersey has confirmed its willingness to engage with this screening process and is confident of being able to satisfy any evidence-based evaluation against the EU’s tax good governance criteria, given the Island’s strong record of cooperation and implementation of international standards.

Jersey is fully committed to the G20 and OECD objectives on transparency and information exchange for tax purposes and has been internationally recognised as such through independent assessments.  Jersey also matches the EU in the implementation of and compliance with international standards of financial regulation, anti-money laundering and countering the financing of terrorism, and in the implementation of sanctions.

The Chief Minister said: “Jersey has a very good story to tell on matters of tax transparency and regulation. I anticipate productive dialogue with the Council members to understand any concerns and to provide reassurance on our commitment to transparency.”

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