GST Director, Steve Lowthorpe commented: “We decided to adopt a phased approach to registration so that we could test our systems and processes with a smaller number of applications. This seems to have been a good strategy and although we expect many more applications in this second, and third phases, we’ve got a good feel for the variety of businesses we will be registering.”

The third phase, for all businesses over the GBP300,000 taxable turnover and those requesting voluntary registration, starts on Tuesday 18 March.

All businesses with a turnover of taxable goods and services (i.e. goods and services that are subject to GST at the standard, or zero, rate of tax) of more than GBP300,000, in any period of 12 months, must register before 1st May 2008.

Businesses that have a turnover of less than GBP300,000 are not obliged by law to register, but may apply to register voluntarily. Non-registered business will not be allowed to charge GST.

All applications should be accompanied (where possible) by an estimate of the most recent annual taxable turnover and a preferred choice of dates for submitting the quarterly tax returns.

The States of Jersey has introduced GST at a rate of 3%. It is estimated that this will bring in GBP45 million to fund public services, covering a fiscal hole created by corporate tax reforms.