Guernsey’s rate of Income Tax has stood at 20 per cent for about 40 years. There are no capital taxes in Guernsey. There is no council tax in Guernsey; there is Tax on Real Property and Parish Rates but these are very reasonable and particularly low in comparison with similar rates in the UK. Excise duties are charged on tobacco, beers, wines, spirit and petrol. Again these compare favourably with the UK. There is no VAT in Guernsey. There is no capital gains tax in Guernsey. There is no inheritance tax in Guernsey.