The UK should consider compensating Jersey for lost tax revenue when "zero-ten" is introduced, the Chamber of Commerce president has said. The new tax system is to satisfy EU regulations to end uneven taxing of offshore financial institutions.
The UK will increase taxes on banks to meet these provisions.
But chamber president Clive Spears has claimed this means the UK government will be getting money that previously used to be Jersey's.
The "zero-ten" system means some companies would pay 0% tax on corporate profits, while others would be taxed at 10%.
Offshore jurisdictions such as Guernsey and the Isle of Man have also decided to adopt a similar arrangement.
One-Minute World News 
News services
E-mail this to a friend 
Printable version 
