States Members there approved the proposal yesterday – piling pressure on ministers in Jersey who were trying to keep their cards close to their chest.
Guernsey politicians have voted 42 to zero, with two abstentions, to carry out their review of the discredited zero-ten tax system with the presumption of a move to a 10% rate of tax for companies.
A 10% rate of corporate tax is likely to mean a heavier tax burden for working Islanders. Finance companies currently pay at 10%, but shareholders of non-finance firms pay tax on profits as personal income at 20%.
