20 May 2024

Ministers from Guernsey, the Isle of Man and Jersey met this week to discuss international tax matters and progress following the Crown Dependencies’ joint statement in May last year on the Organisation for Economic Co-operation and Development’s Pillar Two framework .

The meeting was held remotely with talks taking place between Deputy Lyndon Trott, Guernsey’s Chief Minister, Deputy Jonathan Le Tocq, Guernsey’s External Relations Minister, Dr Alex Allinson MHK, the Isle of Man’s Treasury Minister, Elaine Millar, Jersey’s Treasury Minister, and Ian Gorst, Jersey’s Minister for External Relations.

The Ministers confirmed their shared commitment to international tax standards and the continued value of inter-island cooperation in areas of mutual interest in international tax policy. They discussed each Island’s implementation plans for Pillar 2 and noted they would shortly be commencing their respective legislative procedures to a common timeline with introduction for accounting periods on or after 1 January 2025.

The Ministers agreed that working co-operatively and openly with each other on topics of mutual interest benefits all three Islands and should continue.