Business tax changes on schedule

Guernsey's new "zero-ten" tax system is on track to be introduced in January 2008, ministers have said.

Commerce and Employment Minister Stuart Falla and Treasury Minister Lyndon Trott were speaking at a public seminar on the technicalities of the system.

Corporation tax is set to be scrapped in January, and instead some companies would pay 0% tax and others taxed 10%.

The States hopes the move will maintain Guernsey's attractiveness as a place to do business.

Offshore jurisdictions such as Jersey and the Isle of Man have already decided to adopt a similar arrangement.