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.