Globalisation challenge for the islands

As Jersey, Guernsey and the Isle of Man hurry to rearrange their corporate taxation it shows just how hard they are prepared to work to protect their finance industries. The Isle of Man brought in its so called 0/10 taxation of corporates this year, with Guernsey following in 2008 and Jersey in 2009. In all three cases they are being driven by the need to fit in with the EU Code of Conduct on Business Taxation. The offshore islands may be outside the EU but they have to conform with it to an extent to be able to feed off it. They know that aside from finance they have little else to susta...