‘Tax haven’ is not necessarily a bad label, research claims

THE term ‘tax haven’ can makes a place sound attractive, according to research conducted by a public relations firm.

Tony Langham of Lansons Communications
Tony Langham of Lansons Communications

THE term ‘tax haven’ can makes a place sound attractive, according to research conducted by a public relations firm.

And two finance journalists have said that they would continue to use the term to describe places like Jersey, Guernsey and the Isle of Man when they write about the Crown Dependencies in their newspapers.

That news will not be welcomed by those in the Island’s finance industry who argue that Jersey is not a place that exists to allow people to avoid paying tax.

It is regularly argued locally that the ‘tax haven’ label is damaging and is not reflective of the positive contribution that centres like Jersey make to international trade.

But it would appear that the term may not have the negative connotations many in the finance industry here believe it does.