Guernsey

Tax & Regulation | 9 Dec 11

Guernsey pension and financial services industry executives issued statements today expressing confidence that a pending shake-up of the way Qualifying Recognised Overseas Pension Schemes are regulated by the UK will not harm the island’s QROPS industry.

United Kingdom | 30 Nov 11

Guernsey chief minister Lyndon Trott told a States Assembly meeting this morning that the government welcomed a formal review of the islands zero-10 corporate tax regime by the EU Code of Conduct Group, which he said would now take place.

Europe | 29 Nov 11

ECOFIN is expected today to formally adopt recommendations made to it by the EU’s Code of Conduct Group on Business Taxation, on the recently-revised zero-10 tax regimes of Jersey and the Isle of Man.

Europe | 11 Nov 11

Credit ratings agency Standard & Poors has downgraded Guernsey and the Isle of Man from AAA to AA+, outlook stable, owing to concerns over their external vulnerability and lack of monetary flexibility.

United Kingdom | 31 Oct 11

Spokesmen for depositors who lost money in the collapse of Guernseys Landsbanki and the Isle of Mans Kaupthing Singer & Friedlander subsidiaries said they were disappointed by a decision on Friday by an Icelandic court, which will ensure some other losers in the collapse of Icelands major banks will get back most of their money but they, once again, will not.