The Chief Ministers of Guernsey and Jersey have concluded two days of meetings in Brussels with the ambassadors of Germany, Austria, Portugal and Malta; Pierre Moscovici, European Commissioner for Economic and Financial Affairs, Taxation and Customs; and members of the European Parliament from the UK and Germany.
The meetings focused on the continued commitment of the Channel Islands to meet EU standards on matters of tax transparency and economic substance.
During the meeting with Commissioner Moscovici, Senator Ian Gorst, Chief Minister of Jersey, and Deputy Gavin St Pier, Chief Minister of Guernsey, reaffirmed the islands’ willingness to engage with the EU on tax matters.
Both islands have cooperated fully with the ongoing screening process being undertaken by the EU Code of Conduct Group on Business Taxation, and have provided detailed technical submissions to the Code of Conduct Group as part of that exercise.
Senator Ian Gorst commented: “In January 2016, Commissioner Moscovici described the Channel Islands as cooperative partners of the EU. We believe our actions since then, and recognition by international bodies including the OECD, have further validated that. Throughout all of our meetings in Brussels we have emphasised our commitment to maintaining that status as cooperative jurisdictions and good neighbours.”
Deputy Gavin St Pier, added: “It is important for decision-makers in Brussels to understand two things. First, Guernsey and Jersey work as well-regulated finance centres that make a significant contribution to the EU capital market, supporting investment in EU infrastructure and businesses. Second, we play our part in developing and upholding international standards, through our involvement in the OECD Global Forum and the OECD’s BEPS Inclusive Framework.”
Pictured: Senator Ian Gorst, Commissioner Pierre Moscovici and Deputy Gavin St Pier