The leak, dubbed the Paradise Papers, contains 13.4m documents, mostly from one leading firm in offshore finance
Jersey to investigate tax avoidance schemes
Paradise Papers reporting has been misleading, sensational, and simplistic - St Pier
Captain receives 'water salute' at Jersey Airport on last flight
More news, sport, travel and weather from 08:00 on Wednesday
Ryan Morrison
BBC News Online
Our coverage across the Channel Islands has finished for today.
We'll be back on Wednesday from 08:00 with the latest news, weather, travel and sport.
Don't forget BBC Channel Islands News on BBC One at 18:30 and 22:30.
Ryan Morrison
BBC News Online
Jersey's financial services regulator says there is no evidence Apple moved or held money in the island.
The Jersey Financial Services Commission (JFSC) says it needs to see the leaked Paradise Papers to fully investigate claims by Panorama that Apple became tax resident in Jersey following a law change in Ireland.
The Director General of the Jersey Financial Services Commission says as far as they are aware the companies mentioned in the media were not Jersey-registered companies.
He is referring to companies owned by Apple including Apple Sales and Apple Operations.
John Harris said: "Our understanding is that Apple funds relating to these entities have not been remitted to or held in the Island."
He joined Chief Minister Senator Ian Gorst in calling on the International Consortium of Investigative Journalists to release any related documents so they can be properly investigated.
Apple says no operations or investments were moved from Ireland in 2015 and it follows the law.
Ryan Morrison
BBC News Online
Companies wanting to become tax resident in Jersey should be able to show they provide "meaningful economic value" to the island economy says Chief Minister, Senator Ian Gorst.
He was speaking after revelations from the Paradise Paper found Apple became tax resident in Jersey in 2015 after a law change in Ireland. Apple denies any wrongdoing and says it never moved money from Ireland that year.
Image source, States of JerseyQuote MessageI do not believe there is any room in Jersey today or in the future for companies or firms that cannot show meaningful economic value or have any potential to harm our excellent reputation.
Senator Ian Gorst, Jersey Chief Minister
Ryan Morrison
BBC News Online
John Shenton, a Jersey tax expert, says the Paradise Papers story could harm the island's reputation. "There is nothing to suggest anybody has done anything wrong, anybody has done anything illegal or Jersey has done anything wrong," he said.
"What you have is a perception - it is hard to change perception - that something isn't right here.
"Reputation matters a lot and it is very difficult if somebody sullies your reputation, it is hard to get it back," he added.
The Paradise Papers contain 13m documents obtained from law firm Appleby and others. Appleby described it as an "illegal data breach" and as a hack.
One document revealed Apple registered as a tax resident of Jersey in 2015 after a law change in Ireland. Apple says they didn't transfer any money out of Ireland in 2015.
Rob England
BBC News Online
The results of an investigation into Apple's offshore cash held in Jersey, could force the states to change the "arrangements" they have with companies, according to the chief minister.
Senator Ian Gorst said if it was revealed some were not following current rules - which do not allow for tax avoidance schemes - they may change the law to clamp down on this.
Jersey could increase regulation following Apple investigation
Ryan Morrison
BBC News Online
The chairman of Jersey's only political party, Reform Jersey, says it is important Jersey explores stricter regulation around companies operating in Jersey regardless of the outcome of any investigation into the Paradise Papers leak.
The Paradise Papers include information on tax arrangements of international companies, celebrities and politicians including suggestions Apple became tax resident in Jersey in 2015 after a law change in Ireland.
Chief Minister, Senator Ian Gorst, says they will investigate the claims and could change laws to make it impossible for companies to become tax resident without a "substantive" presence in the island.
Quote MessageIt is the principle that matters. Whether or not Apple were using Jersey in an inappropriate way is immaterial. What the chief minister has proposed about looking at potential legislation is worth exploring and having that discussion. Not just Jersey on its own but with our partners in the international community.
Deputy Sam Mezec, Chairman Reform Jersey
Guernsey Press
As more information continues to come out from the Paradise Papers, Guernsey's senior politician Deputy Gavin St Pier has taken to national news stations to both condemn the theft of private financial papers and also explain why the island, and other jurisdictions like it, are not tax havens, external.
Ryan Morrison
BBC News Online
Companies registering in Jersey to "aggressively avoid tax" are not welcome in the island says Chief Minister, Senator Ian Gorst.
He was responding to a revelation that Apple had billions in Jersey in 2015 after a law change in Ireland meant they had to have tax residency somewhere in the world.
In a statement, external Apple says they moved the money to ensure their tax obligations in the USA were not reduced.
Image source, PAQuote MessageWhat we have in Jersey is a tax neutral platform. We expect tax to be paid in the country of origin where the money flows from and we expect tax to be paid in the country where it is used. The businesses they are supporting in Jersey should show there is economic value to Jersey and should not have any potential to harm our excellent reputation.
Senator Ian Gorst, Jersey Chief Minister
Senior Guernsey politician, Deputy Gavin St Pier says the Paradise Papers leaks were part of an "orchestrated political campaign" and come ahead of an EU meeting on blacklisting offshore finance centres.
European Union states have decided to bring forward a discussion on creating a blacklist of tax havens, following the release of the Paradise Papers.
Image source, Francois LenoirEU countries had planned for months to reach an agreement on a blacklist for tax havens by the end of this year, following the leak of the Panama Papers in 2016, but the discussion has now been moved forward in light of the new revelations.
The European Commission is proposing an EU-wide list of tax havens meant to discourage the re-routing of profits made in the EU to tax-free or low-tax countries.
The latest revelations "put renewed emphasis on the work the European Commission is doing to fight tax avoidance", said the vice president of the EU's executive arm, Valdis Dombrovskis.
Ryan Morrison
BBC News Online
The body that represents and promotes the Jersey finance industry says it "does not condone abusive tax avoidance schemes".
Jersey Finance says it is "committed to ensuring that businesses and investors meet their tax liabilities" and takes its approach to ensuring companies have a substance in Jersey if they want to be tax resident very seriously.
The comments come after leaked documents known as the Paradise Papers revealed Apple became tax resident in Jersey following changes to the law in Ireland in 2015.
Apple denies they held moved any money from Ireland in 2015.
Rob Byrne
BBC News Online
Jurisdictions which find themselves on a new EU tax blacklist could find themselves subject to sanctions, an EU official says.
Economic Affairs Commissioner Pierre Moscovici attended a meeting of finance ministers in Brussels this afternoon, brought forward because of the release of the Paradise Papers.
"We've done a lot in the recent years but we need to do more. It is high-time that we have a blacklist of tax havens before the end of this year," he said.
The leaks have raised questions about the role British crown dependencies and overseas territories play in facilitating tax avoidance.
"It must be effective and credible, and it must be assorted with sanctions, if necessary," he said.
Ryan Morrison
BBC News Online
The Constable of St Helier Simon Crowcroft says islanders need to get more involved in having their say on plans for the new hospital.
Constable Crowcroft said people seem to have lost interest, but it is vital they have their say in the proposals.
BBC Channel Islands News
Guernsey's Chief Minister says the Paradise Papers leak is politically motivated
Ryan Morrison
BBC News Online
Jersey's chief minister has asked the International Consortium of Investigative Journalists for a copy of any Paradise Papers documents relating to Jersey.
He says he wants financial investigators to find out if any laws have been broken or if the island's tax laws need to be made stronger to prevent any aggressive or abusive tax avoidance.
Senator Ian Gorst said he does not want companies aggressively avoiding tax in Jersey and says companies should only have tax residency in the island if they have a "substantive presence" which includes employing staff.
Image source, PAQuote MessageIf what we have heard in the media proves to be abusive or aggressive avoidance then we will take action. I have asked for a review by the regulator into this. Companies operating in Jersey should show substance.
Senator Ian Gorst, Jersey Chief Minister
A band of cloud and rain, which will be heavy at times, will move east during this afternoon.
The winds will be picking up for a time. Maximum temperature: 11C (52F).
This evening rain should soon ease away, with some clear spells developing. However occasional showers are then likely to spread in from the the northwest. Minimum temperature: 7C (45F).
Jersey
Guernsey
The Paradise Papers show that in 2013, Apple avoided a crackdown on its controversial Irish tax practices by moving the firm holding most of its untaxed offshore cash to the Channel Island of Jersey.
Rita de la Feria from the University of Leeds says the leaked documents show the lengths companies will go to in order to avoid paying billions in tax.
"I think this is essentially like written evidence of something that we all kind of know is happening, with essentially a wide tax competition amongst various jurisdictions around the world for investment," she told the BBC.
"Everyone wants to get the investment so basically the multinationals take advantage of that fact and essentially make countries compete for that investment through tax."
BBC Radio 5 live
Guernsey Chief Minister Gavin St Pier spoke out on the Paradise Papers on Tuesday's Wake Up to Money.
You can hear him on the podcast here.
Guernsey Press
People could be forced to the ballot box through a requete being brought by two deputies, external.
Rob England
BBC News Online
Image source, Alan MossA rare "water salute" was given to the captain of the aircraft which delivers mail to the Channel Islands on his last flight.
Fire crews handled the salute on Monday evening for captain Ed Coleman, who has flown with airline Western Atlantic for the last three-and-a-half years - his final role in a career spanning nearly four decades.
Mr Coleman said he was "very humbled and appreciative" of the gesture.
Jersey Airport said the salutes were "not a regular feature", and were usually only offered for inaugural flights or special occasions.
Image source, Alan MossRyan Morrison
BBC News Online
The European Commission says it is taking tax avoidance seriously.
Allow X content?
This article contains content provided by X. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read X’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.
European Union states have decided to bring forward a discussion on creating a blacklist of tax havens, following the release of the Paradise Papers.
EU countries had planned for months to reach an agreement on a blacklist for tax havens by the end of this year, following the leak of the Panama Papers in 2016, but the discussion has now been moved forward in light of the new revelations.
The European Commission is proposing an EU-wide list of tax havens meant to discourage the re-routing of profits made in the EU to tax-free or low-tax countries.
The latest revelations "put renewed emphasis on the work the European Commission is doing to fight tax avoidance", said the vice president of the EU's executive arm, Valdis Dombrovskis.
