Geoff Cook, the chief executive of Jersey Finance, says that the independent report published yesterday is another endorsement of the Island’s regulatory standards.
And he added that figures in the report destroyed the ‘myth’ that the finance industry took vast amounts of money out of other countries.
Mr Cook emphasised the finding that the amount of UK tax avoided by UK companies using offshore centres was ‘significantly lower than estimates produced by previous studies have suggested’.
The report, by former finance industry regulator Michael Foot, is the product of a year-long review into British offshore centres in the Crown Dependencies, and the offshore territories in the Caribbean.
