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Last Updated: Tuesday, 16 August 2005, 12:42 GMT 13:42 UK
Concerns over tax reforms debate
Business bosses in Guernsey say they are disappointed decisions over planned tax reforms are not due to be taken until next year.

Plans for radical reforms to safeguard the future of the island's economy are to be debated in a special extra States meeting in February 2006.

The Chamber of Commerce says months of uncertainty for members is "not ideal".

The States debate will look at plans to plans to abolish corporation tax to keep companies in the island.

Vital decision

As well as this, new taxes are being considered to cover up to �45m in lost corporation tax income.

Mark Trenchard, president of the Chamber of Commerce, said it was disappointing a decision would not be made sooner.

But he added: "It is vital to get the decision right."

Draft proposals for the tax changes should now be published in September, giving businesses and politicians five months to consider them before coming to a verdict about what is best for the island.

The special one-off States meeting to debate the plans will be held beginning on 8 February.


SEE ALSO:
Date set for tax reforms debate
15 Aug 05 |  Guernsey
Chamber remains upbeat on economy
08 Aug 05 |  Guernsey
Island to comply with EU tax law
27 Jul 05 |  Guernsey
Overspending tops States agenda
26 Jul 05 |  Guernsey


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