The comment about Guernsey being used as a a "Banking Haven" for "Tax cheats and Criminals" is a very unfair and libelous comment.
Nonetheless, if you Google the terms "tax cheats" "criminals" and "Guernsey," you get thousands of hits similar to the following:
"The case comes as Guernsey, which has been seen as a haven for money laundering and tax evasion, attempts to improve its international image."
The discreet tax haven of Guernsey is being forced into the limelight after British lawyers acting for the government of Equatorial Guinea requested an order from the island's La Cour Ordinaire for records that could reveal who bankrolled the £3m failed coup last year.
Judges are expected to rule tomorrow (Wednesday) in this test case, reports The Independent. The case comes as Guernsey, which has been seen as a haven for money laundering and tax evasion, attempts to improve its international image. Equatorial Guinea has asked for bank account records and safe deposit boxes belonging to two companies owned by the ex-SAS officer and coup organiser Simon Mann. They are held at the Royal Bank of Scotland International on Guernsey. Mann and 67 alleged mercenaries have been jailed in Zimbabwe. Equatorial Guinea's lawyers intend to use the bank documents in a series of legal actions brought against alleged coup plotters in London, Lebanon and South Africa. Mann's lawyers have challenged the court application.
Full report in The Independent
W McGunnigle wrote:
HI Bill Ryan
Your comment about Guernsey being used as a a "Banking Haven" for "Tax cheats and Criminals" is a very unfair and libelous comment. While it is true that there are the means available through the Guernsey self government for this to take place, the same can also be said of Switzerland, The Isle of Man, and several Pacific Island nations. There are also provisions within the Guernsey constitution to ensure that funds deposited there that can be traced to criminal activity can be appropriated by the Guernsey government irrespective of their origin. That provision dates back to the days when extensive smuggling from France to the UK took place in the 18th and early 19th centuries when many of the smugglers based themselves in the Channel Islands. Those provisions allowed the excise men free access to all buildings thought to be involved in the activities without recourse for a search warrent. This was extended in due course to include all warrented excise officers in the UK, and still exists today. Drug smuggling and investigation is an excise department job and so you can see the obvious advantage in not needing to apply for a search warrent when the excise dept are conducting an investigation in the UK and the Commonwealth.
The penalty for an exciseman overreaching himself in using this right is a charge of sedition, which used to involve the death penalty.
I believe that consideration should be given to why people place their savings into bank deposits in the places I have mentioned.
The main reason is punitive taxation that robs people of their rightful rewards for their labour, if taxes were reasonable this would not occur.
Another argument against Socialist ideology in favour of Socred Philosphy.
BIll MC G