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Guernsey Removed From Bulgaria's 'Black List'

by Jason Gorringe, Lowtax.net, London
19 July, 2016

Bulgaria has removed Guernsey from its list of jurisdictions with preferential tax regimes.

The removal was confirmed in a letter from Bulgaria's Minister of Finance to Guernsey's Policy and Resources Committee President Gavin St Pier.

Jonathan Le Tocq, Policy & Resources Committee member with responsibility for external relations, commented: "The removal of Guernsey from Bulgaria's so-called black list demonstrates that European Union member states recognize that transparency is about actively committing to, and meeting, international standards and are willing to revise their assessment of Guernsey in light of these developments."

"The key to our relationship with Bulgaria is the mutually beneficial arrangements in place. This is reflected in the relationships and agreements we have with other countries also."

Le Tocq said that while Guernsey remained on lists for Belgium, Croatia, Greece, Lithuania, Portugal, and Spain, work is progressing to seek the island's removal from each, if possible.

"We are continuing to proactively engage with those six other Member States. It must be noted our inclusion on those countries' lists are for varying reasons, all of which are technical in nature, and not due to a standard set of criteria, making this a complex task."


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