TAX HAVENS UNDER “STANDSTILL†AND “ROLLBACK†INSTRUCTIONS OF THE EU
Journal Title: European Journal of Business and Social Sciences - Year 2014, Vol 3, Issue 5
Abstract
The European Union through its Code of Conduct for Business taxation urged its Member States and their associated territories to reshape their national tax legislations in order to tackle harmful tax competition. The two English Channel Islands (Guernsey and Jersey) and the Isle of Man, formerly known as “tax havensâ€, had to amend their tax laws in order to become compliant to the provisions of the Code. The aim of this paper is to present a case study on the evolution of the three island’s tax systems departing from the harmful measures which were not within the spirit of the EU’s Code of Conduct and reaching the implementation of the “zero-ten tax systemâ€. An important result of the research performed on this evolution reveals the EU’s position towards the 0% tax systems: these tax regimes are not condemned nor forbidden as long as harmful tax practices are eliminated.
Authors and Affiliations
Ana-Maria Geamãnu| PhD Student The Bucharest University of Economic Studies, Romania The Institute of Doctoral Studies, Tache Ionescu Street, no.11 E-mail:anamariageamanu@yahoo.com Telephone number: +40 0730118270
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