Jersey Finance notes the publication of the code of practice on taxation for banks.

It is currently unlikely that the code will significantly impact Jersey, as the main focus of Jersey’s finance industry is as a provider a of tax neutral environment to facilitate global capital flows, much of which feeds the financial markets in London. However, it is appreciated that all banks with a UK presence will need to review the code and its implications.                 
 
Jersey Finance will be consulting further with the local banking industry regarding the impact of the code and remains committed to the OECD tax information programme and tax transparency.