IN420 - Sark - Channel Islands And Tax Transparency

Author:Mr Robin Hagerman
Profession:Dixcart
 
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Sark, in the Channel Islands, is located close to Jersey, Guernsey and Alderney and is a unique and unspoiled island with no airport or cars.

It is a quiet tourist destination with little other industry to detract from the island's stunning natural beauty, with a small population enjoying an exceptional rural quality of life.

Tax Residency Confirmation

With growing moves toward international tax transparency and an increasing change of domicile by many people, a tax residency confirmation is often now requested as a formal document by banks and other bodies as part of their 'know your client' procedures. 

In some of the smaller jurisdictions this often requires an explanation with regards to the taxation obligations of residents.

Sark Government Explanatory Statement

Sark, which is part of the Bailiwick of Guernsey, is probably the smallest self-governing state in the world with a population of approximately 560 people, and clearly a community which cannot fund resources for all of the normal governmental administration and regulation procedures.

It is therefore interesting that this charming and beautiful island...

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