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Delegation enhances Guernsey’s reputation in Washington 14 May 2009 The political establishment in the US is looking far more favourably on Guernsey than it once did, according to Guernsey’s Chief Minister, Lyndon Trott. The Chief Minister has just returned from Washington where he was leading a delegation from Guernsey that built on the Island’s OECD ‘white listing’ by reinforcing its credentials as a transparent and co-operative low-tax jurisdiction among those on Capitol Hill. “I think it is fair to say that the US is looking upon Guernsey far more favourably than it once did,” said the Chief Minister, who led a similar delegation to Washington in 2007. “We have got to where we are after building solid relationships in 2007 and being able to return and consolidate our efforts on the back of the OECD white listing. The visit was extremely important in developing our international identity. “Some in Guernsey still underestimate just how significant our white-listing is. It has secured the future of the Island as a financial services centre. Those we met in Washington were quick to appreciate our status as a transparent and co-operative jurisdiction as a result.” Peter Niven, Chief Executive of Guernsey Finance –
the promotional agency for the Island’s finance industry, added:
“The success the delegation has had in highlighting the fact that
we are a transparent and co-operative low-tax jurisdiction is very good
news for the Island. It is important to build on the momentum gained from
our white listing by reinforcing these messages at various levels so that
we can continue to enhance our reputation as a leading international finance
centre.” These included representatives of the United States Senate Finance Committee, the United States House of Representatives Ways and Means Committee, the United States Senate Permanent Sub-Committee on Investigations, the Multistate Tax Commission, the Joint Committee on Taxation, and the US Department of the Treasury. The Multistate Tax Commission is considering revising its Model Statute – which serves as a template that states can use to enact tax laws – to include the new OECD ‘tax haven’ listings of 2009 rather than the previous listing of 2000, which would blacklist Guernsey. “This is precisely the change in policy that we have been advocating and developments like this are exactly the reason we made this trip,” said the Chief Minister. He also met with the International Monetary Fund, which is scheduled to inspect Guernsey this autumn. The Chief Minister is also planning to invite Robert Roach to the Island. Mr Roach is the Chief Investigator of the Senate Permanent Sub-Committee on Investigations and also tax counsel to Senator Carl Levin, the lead sponsor of the Stop Tax Haven Abuse Act in the Senate. ### |
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