Guernsey does not operate a VAT or goods and service tax (GST).
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Under this agreement the Channel Islands were not part of the European Union but were part of the customs territory of the union. This meant they did not charge VAT on purchases but there was a free movement of industrial and agricultural goods in trade between the Islands and the Union.
Cayman IslandsThe Cayman Islands is a popular tax haven. There is no income tax, capital gains tax, or corporation tax on individuals or companies. The government operates in a similar way to the Bahamas, where it will generate revenue through indirect taxes such as import duties, tourism taxes and work permit fees.
Some goods and services such as education, healthcare and financial services may be exempt from VAT. These sales are exempt from VAT, without the 'right to deduct'. This means you may not deduct the VAT you have paid on purchases related to such sales.