The island nation of Jersey is looking to use newly revised tax laws to entice high net worth individuals and wealthy tax exiles from around the world to settle down in the country. On July 22nd the Minister for Treasury and Resources of Jersey Philip Ozouf announced a newly approved revision to the nation’s tax laws, aimed at attracting greater number of international high net worth individuals to the island. Under the revised laws, overseas residents who have been granted permission to reside in ... Read More

The negative effect of international financial centers on the UK economy and tax revenues is dramatically overstated, and overall treatment of international financial centers in the UK has been “remarkably one-sided.” Allegations of unfairness have been laid against the OECD and the Governments of advanced economies, in regards to their treatment of international financial centers (IFC). While holding a debate in the UK Parliament on the topic of offshore financial centers on July 21st, Mark Field, Conservative MP, said that IFCs were not ... Read More

The Government of the British Crown Dependency of Jersey has released a new public consultation paper which examines possible tax changes to plug the Government's emerging budget gap. On June 21st the Government of Jersey released a public consultation paper dealing with the possible implementation of increased tax rates, with the ultimate aim of sustainably decreasing the current budget deficit without serious cuts to public services. According to Government estimates, an extra JEP 60 million of tax revenue will be needed annually ... Read More