Guernsey commits to automatic exchange of tax information

International Tax Review is part of Legal Benchmarking Limited, 1-2 Paris Garden, London, SE1 8ND

Copyright © Legal Benchmarking Limited and its affiliated companies 2025

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Guernsey commits to automatic exchange of tax information

One of the UK’s Crown Dependencies, with which Britain has recently agreed new plans to improve tax reporting, has come out in favour of a pilot programme for introducing an international system of multilateral exchange of information.

Peter Harwood, Guernsey’s Chief Minister, wrote to David Cameron, the British Prime Minister, to support the move by Germany, France, Italy, Spain and the UK, which was announced on April 9 and which will be modelled on the intergovernmental agreements established to implement the American Foreign Account Tax Compliance Act (FATCA).

“Guernsey firmly believes that common global standards are the most effective method of fighting fraud and tax evasion,” he wrote. “Guernsey was on the original OECD white list and we have a clear policy objective to meet international standards on tax transparency.”

Harwood added that Guernsey was committed to meeting all international standards on beneficial ownership, including transparency of and access to such information.

George Osborne, the UK Chancellor of the Exchequer, announced in March that the Treasury hoped to recover £1 billion ($1.5 billion) as a result of new tax reporting measures, including automatic exchange of information, it had agreed with its Crown Dependencies – the Isle of Man and Jersey, as well as Guernsey.

more across site & shared bottom lb ros

More from across our site

The climbdowns pave the way for a side-by-side deal to be concluded this week, as per the US Treasury secretary’s expectation; in other news, Taft added a 10-partner tax team
A vote to be held in 2026 could create Hogan Lovells Cadwalader, a $3.6bn giant with 3,100 lawyers across the Americas, EMEA and Asia Pacific
Foreign companies operating in Libya face source-based taxation even without a local presence. Multinationals must understand compliance obligations, withholding risks, and treaty relief to avoid costly surprises
Hotel La Tour had argued that VAT should be recoverable as a result of proceeds being used for a taxable business activity
Tax professionals are still going to be needed, but AI will make it easier than starting from zero, EY’s global tax disputes leader Luis Coronado tells ITR
AI and assisting clients with navigating global tax reform contributed to the uptick in turnover, the firm said
In a post on X, Scott Bessent urged dissenting countries to the US/OECD side-by-side arrangement to ‘join the consensus’ to get a deal over the line
A new transatlantic firm under the name of Winston Taylor is expected to go live in May 2026 with more than 1,400 lawyers and 20 offices
As ITR’s exclusive data uncovers in-house dissatisfaction with case management, advisers cite Italy’s arcane tax rules
The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
Gift this article