Channel Islands Brussels Office (CIBO)
Both Guernsey and Jersey have voluntarily committed to adhering to the EU’s Code of Conduct on Business Taxation, which was established in 1999. The EU’s Code of Conduct Group periodically conducts reviews of the tax regimes in individual Member States, and other jurisdictions like the Channel Islands that have subscribed to the Code principles, in order to identify any harmful tax practices. Guernsey’s zero-ten regime was reviewed by the Code Group in 2012 and on 4 December EU Finance Ministers (ECOFIN) approved conclusions which confirmed that Guernsey’s regime, as amended in June 2012, was Code compliant. (Jersey’s regime was similarly assessed in 2011 – see news entry of 19 December 2011)
