Guernsey levies no capital gains, inheritance, capital transfer, value added (VAT / TVA) or general withholding taxes. Guernsey has thus been described a tax haven. In the 2011 Budget, the UK announced that it would be ending Low Value Consignment Relief that was being used to sell goods VAT free to customers across the UK, with this legislation coming into force on 1 April 2012. Tax revenues represent 22.4% of GDP.
Guernsey levies no capital gains, inheritance, capital transfer, value added (VAT / TVA) or general withholding taxes. Guerns,ey has thus been described a tax haven. In the 2011 Budget, the UK announced that it would be ending Low Value Consignment Relief that was being used to sell goods VAT free to customers across the UK, with this legislation coming into force on 1 April 2012. Tax revenues represent 22.4% of GDP.