Submission - OECD Pillar 2 Review - Jersey Financial Services Commission - 10 September 2024
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Jersey Financial Services Commission
States Greffe Morier House Halkett Place St Helier
Jersey
JE1 1D
10/09/2024
Dear Alex,
Thank you for your letter of 30 August 2024 regarding the review by the Pillar 2 Sub-Panel of the proposed OECDPillar 2 legislation.
The Jersey Financial Services Commission (JFSC) believes that the island's longstanding policy of alignment with international standards is in the best interests of the island's economy and reputation
as a well-regulated international finance centre. The JFSCnotes that this proposed legislation follows commitments previously made by the Governments of the three Crown Dependencies to implement this OECDframework. The JFSC also notes that the United Kingdom (UK) and European Union (EU), together with many competitor jurisdictions, have made similar commitments.
Weunderstand that responsibility for the implementation of the proposed legislation will primarily be with Revenue Jersey, with the direct impact on the JFSC being minimal.
Welook forward to contributing to wider ranging discussions about the island's competitiveness as part of the proposed Ministerial Working Group, which we presume will take into account the increased levels of tax harmonisation globally.
Yours sincerely
Executive Director Policy, Marketing and Communications, and Innovation Hub Tel: +44 (0) 01534 822119
Email: [email protected]
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