Budget highlighted misuse of zero-ten company tax regime
Existing laws could be used to counter residents not paying their fair share of income tax, according to an Island tax specialist.
In his Budget this week, Treasury minister Eddie Teare highlighted misuse of the Island's zero-ten company tax regime for what he called 'unfair' tax planning.
Mr Teare expressed 'serious concern' the structure allowed people to withdraw funds without paying tax - and has pledged to combat the practice.
Tax director at KPMG Robert Rotherham says it's possible Treasury may not have to bring in any new rules.
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