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Jersey Tax Comptroller Warns Businesses To Get Ready For GST
by Carla Johnson, Investors Offshore.com, London

27 February 2008

Jersey's Comptroller of Income Tax, Malcolm Campbell is reinforcing the need for businesses to be prepared for the introduction of the Goods and Services Tax (GST) in the Island on May 1st 2008 with a letter to local businesses.

The letter, reminding businesses of the law, its requirements and the practical implications of it, is being sent out in phases, the first of which began on February 22nd. This letter forms a part of a broader communications strategy on GST.

Advertisements are appearing in the local press and radio station directing the public to the States website.

Malcolm Campbell commented: “GST is a major new initiative; accordingly we are trying to give all businesses as much information as possible. It is key that we help businesses understand and cope with this new tax.”

The GST team, led by Director Steve Lowthorpe, have been holding presentations and onsite meetings with businesses since January 2007, and currently see in excess of 60 businesses a month on a one-to-one basis.

Mr Lowthorpe added: “From Tuesday 26 February we will be holding educational evenings for those companies that have already registered for GST. These will be smaller meetings (no more than 40 people) to discuss the preparedness of businesses for GST and their specific questions or issues. We will be holding them three times a week whilst there is a demand.”

Businesses have been invited to register in phases, according to their 12-month taxable turnover for GST; from January 14th, businesses with a turnover in excess of GBP10m were invited, from February 18th, those with a turnover between GBP1m and GBP10m were asked to register, and from March 18th, all businesses over the GBP300,000 threshold and those requesting voluntary registration will be invited to apply.

To date, over 300 businesses have been registered.

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