Guernsey and Jersey have avoided being blacklisted by the European Union in their latest roll call of rogue tax jurisdictions, but they’ve not been declared whiter than white.
The islands are among 92 jurisdictions to have been reviewed by the EU’s Tax Code of Conduct Committee.
They’ve not quite made the white-list, instead they’ve ended up on a grey-list of places that have made improvements to their tax transparency and regulatory framework, and have also promised further fiscal reforms.
Ahead of today’s confirmation, officials in Europe previously said governments from all the locations being scrutinised would be informed and allowed to respond before the blacklist is made public.
Chief Ministers from Guernsey and Jersey met with European counterparts less than a fortnight ago, while last week Oxfam lobbied the EU with a list of countries it wanted to see on the blacklist which included Jersey but not Guernsey.
