The Paradise Papers have revealed a lack of opposition parties in Britain’s Crown Dependencies featured in Apple’s decisions on where to hold its offshore cash.
The Isle of Man, Guernsey and Jersey all offer low rates of taxation to entice businesses and wealthy individuals, marketing themselves as “politically stable”.
In Jersey – where Apple held some of its profits – the only political party says the system is “fundamentally undemocratic”, and needs to change.
With the UK ultimately responsible for the dependencies’ international relations and defence, could Westminster-style party politics make them less attractive to firms looking to base offshore tax schemes in the islands?
A BBC Panorama investigation showed correspondence from March 2014 between multinational corporation Apple’s legal
... read more at: http://www.bbc.com/news/world-europe-jersey-41901924