 The States will debate the new tax proposals in the autumn |
Major changes to tax laws in Guernsey are needed to safeguard the future of the island's finance industry, a States report says. To maintain Guernsey's attractiveness as a place to do business, companies may pay less corporation tax from 2008.
A new "zero-ten" system means some companies would pay 0% tax, while others would be taxed at 10%.
Offshore jurisdictions such as Jersey and the Isle of Man have already decided to adopt a similar arrangement.
The proposals have sparked some controversy as income tax payers in the island could be asked to make up a shortfall of millions of pounds.
A consultation document on the subject is being released on Tuesday, outlining the options available and the proposals will be considered by States politicians in the autumn.
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