Plans are in place to introduce a general sales tax (GST) in Guernsey if economic growth is not enough to make up for a tax shortfall. When corporation tax is changed next year, the States will need to find millions of pounds of extra revenue.
Speaking at an Institute of Directors seminar, Treasury Minister Lyndon Trott was confident GST would not be needed.
He said work on all the legislation needed for removing corporate tax was progressing well.
The aim of changing corporation tax is to maintain Guernsey's attractiveness as a place to do business,
A new "zero-ten" system means some companies would pay 0% tax, while others would be taxed at 10%, but the island faces a financial black hole of �50m.
One-Minute World News 
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