Jersey Considers Options On EU Savings Tax

tax       2003-05-06 
Guernsey's early decision to choose the withholding tax option over exchange of information under the EU savings tax directive has complicated Jersey's decision making process on the issue, which has yet to decide the most suitable option to take.
Policy and Resources president Senator Frank Walker told the States that making the wrong decision on the matter could cause business to transfer from one island to another to take advantage of the more favourable regime, reported the Jersey Evening Post last week. However, Walker stressed that consultation was ongoing with the financial services sector and it is presently unclear to what extent migration would take place.