Jersey Chamber Reconsidering Sales Tax Support
According to a BBC Jersey report, the Island's Chamber of Commerce is said
to be reconsidering its support for the goods and services tax proposed by the
States authorities to compensate for the planned introduction of a zero rate
of corporation tax. The trade organisation had accepted the need for a GST, albeit with reservations,
as no suitable alternatives had been put forward. However, following the recent publication of a consultation paper on tax reform
in the jurisdiction, the Chamber is understood to have re-examined its position. The paper, entitled ‘Jersey’s Taxation Structure – A Goods and Service Tax
– The right way for Jersey?’ outlined the reasons for considering a goods and
services tax (GST) and the various alternatives that are available, and was
produced by Crown Agents, a UK Consultant, on behalf of the Finance and Economics
Committee. The deadline for comment was December 3, and the responses are now being examined. A comprehensive report in our Intelligence Report series giving background tax and residence information on many of the key offshore jurisdictions is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report4.asp
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