The Organisation for Economic Co-operation and Development (OECD), has concluded a review of Jersey’s recent changes to legislation and confirmed that Jersey’s domestic legal framework is in line with the relevant standard and is therefore “not harmful”.
The review was carried out by the OECD Forum on Harmful Tax practices with Jersey being one of 11 jurisdictions whose domestic laws were assessed.
This latest endorsement follows the introduction of new substance legislation by the Jersey authorities last year which successfully met the requirements of the EU Code of Conduct Group.
Commenting on this update, Joe Moynihan, CEO, Jersey Finance said:
“It is pleasing to see that Jersey’s domestic legal framework has been endorsed by the OECD and met the required standards. As a leading International Finance Centre, it is absolutely vital that we continue to cooperate with key global organisations and meet international standards. Having the endorsement of leading international bodies such as the OECD, is helpful in providing reassurance to global investors about the quality of our legislative regime.”