Tax 'fundamentalists' will harm overall economy - Jersey Finance

The combined effect of protectionist measures will constrict wealth, reduce tax bases and lose global prosperity if programmes driven by a "short sighted grab for tax" are pursued, says Geoff Cook, chief executive of Jersey Finance. The Organisation for Economic Cooperation and Development (OECD) also recently slammed the notion of protectionism in respect of tax competition. "We agree on the need to avoid raising new tax obstacles to cross border trade and investment," it says. Cook believes any attempted tax grab will miss its target, as even if discretionary measures are introduced...