Jersey Finance has welcomed the positive comments to emerge from the most recent ECOFIN meeting to assess Jersey’s current business tax regime.
Whilst that meeting looked at Jersey’s current business tax regime, comments from the EU Code of Conduct Group’s report to ECOFIN suggested that Jersey’s moves to repeal the deemed distribution and attribution elements of the regime would be welcomed when ECOFIN reconvene in September.
Geoff Cook, chief executive, Jersey Finance, said:
‘This meeting was a positive step towards gaining clarity around the long-term future of Jersey’s business tax regime, a process we hope will be completed by the end of 2011. I am delighted that the EU Code Group has welcomed Jersey’s commitment to bring its business tax regime fully in line with the Code criteria. This will give finance firms even greater confidence in Jersey as a solid, robust and attractive centre in which to do business.’
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