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The Channel Islands are not a 'tax haven'[1], though we sometimes get called this by foreign politicians[2]. It is easy to take a cheap shot at a few islands ou

The Channel Islands are not a 'tax haven'[1], though we sometimes get called this by foreign politicians[2]. It is easy to take a cheap shot at a few islands outside your voting district. A much easier idea for a politician to sell, than a plan to balance the budget at home. [1]http://www.jerseyfinance.je/ceo-blog/it-s-official---jersey-is-not-a-tax-haven- http://www.jerseyfinance.je/ceo-blog/it-s-official---jersey-... [2]http://www.bbc.co.uk/news/world-europe-jersey-23902431 http://www.bbc.co.uk/news/world-europe-jersey-23902431

agilebyte 13y ago
If an island has 0%/10% corporate tax it is considered an offshore tax haven in the minds of the people that pay 15%+, just like sometimes Ireland or Cyprus is considered that way even though their tax is not 0%.
jbert 13y ago
I'm not sure what the definition of a tax haven is, but here's a page from the jersey govt. I don't study this, but it seems like it is a light/very light tax regime? http://www.gov.je/LifeEvents/MovingToJersey/HighValueResidency/Pages/Tax.aspx http://www.gov.je/LifeEvents/MovingToJersey/HighValueResiden... "companies are generally taxed at 0% and there is a special 10% rate applying to certain regulated financial businesses." "There are no 'wealth' taxes such as capital gains tax or inheritance tax." "the first £625,000 of world wide income (including Jersey based) will be taxed at 20% thereby accruing the £125,000 per annum minimum tax contribution all personal income over £625,000 will be taxed at 1%"
anon1385 13y ago
http://www.theguardian.com/business/2012/nov/09/hsbc-jersey-accounts-uk-tax-hmrc http://www.theguardian.com/business/2012/nov/09/hsbc-jersey-... UK tax authorities are in the early stages of examining a recently received leaked list of 4,388 British residents who bank with HSBC in the tax haven of Jersey. HM Revenue and Customs confirmed it was probing the list, following a report that serious criminals were banking in the Channel Islands, for potential tax evasion. "We can confirm we have received the data and we are studying it," HMRC said in a statement. "Clamping down on those who try to cheat the system through evading taxes and over-claiming benefits is a top priority for us, and we value the information we receive from the public and business community." The information is the latest in a string of illegal leaks of private offshore financial details from some of Europe's most controversial tax haven jurisdictions. HMRC is reported not to have paid for the information on HSBC accounts, though that could not be confirmed. Secret bank accounts with low tax rates? Refusal to co-operate with UK tax authorities? Sounds like a tax haven to me.

agilebyte 13y ago

If an island has 0%/10% corporate tax it is considered an offshore tax haven in the minds of the people that pay 15%+, just like sometimes Ireland or Cyprus is considered that way even though their tax is not 0%.

jbert 13y ago

I'm not sure what the definition of a tax haven is, but here's a page from the jersey govt. I don't study this, but it seems like it is a light/very light tax regime? http://www.gov.je/LifeEvents/MovingToJersey/HighValueResidency/Pages/Tax.aspx http://www.gov.je/LifeEvents/MovingToJersey/HighValueResiden... "companies are generally taxed at 0% and there is a special 10% rate applying to certain regulated financial businesses." "There are no 'wealth' taxes such as capital gains tax or inheritance tax." "the first £625,000 of world wide income (including Jersey based) will be taxed at 20% thereby accruing the £125,000 per annum minimum tax contribution all personal income over £625,000 will be taxed at 1%"

anon1385 13y ago

http://www.theguardian.com/business/2012/nov/09/hsbc-jersey-accounts-uk-tax-hmrc http://www.theguardian.com/business/2012/nov/09/hsbc-jersey-... UK tax authorities are in the early stages of examining a recently received leaked list of 4,388 British residents who bank with HSBC in the tax haven of Jersey. HM Revenue and Customs confirmed it was probing the list, following a report that serious criminals were banking in the Channel Islands, for potential tax evasion. "We can confirm we have received the data and we are studying it," HMRC said in a statement. "Clamping down on those who try to cheat the system through evading taxes and over-claiming benefits is a top priority for us, and we value the information we receive from the public and business community." The information is the latest in a string of illegal leaks of private offshore financial details from some of Europe's most controversial tax haven jurisdictions. HMRC is reported not to have paid for the information on HSBC accounts, though that could not be confirmed. Secret bank accounts with low tax rates? Refusal to co-operate with UK tax authorities? Sounds like a tax haven to me.