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."
The Guernsey delegation had more than a dozen meetings with
senior counsel to Democrat and Republican senators during the four
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
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.
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).