Tax-News.Com Archive

Sponsored by: PEARSE TRUST
Independent advice on corporate and trust structures

ARCHIVE ROOT | TODAY'S NEWS | LOWTAX

Treasury Minister Responds To Retailers’ Concerns About GST
by Carla Johnson, Investors Offshore.com, London

14 March 2008

Jersey's Minister for Treasury and Resources, Senator Terry Le Sueur on Wednesday lodged a proposition asking the States to agree to delay the implementation of the Goods and Services Tax (GST) until May 6th, 2008.

For the majority of retailers this will be the start of their working week (Monday 5th being a Bank Holiday) and will allow them time over the previous weekend to ensure that all goods display a GST inclusive price.

Where exceptions exist, such as pre-priced newspapers and magazines, retailers must display clear signage indicating how the selling price is different to the pre-price, for example with an amount, percentage or new selling price.

This proposal follows feedback from retailers, who expressed concern that the implementation day of May 1st, 2008 fell on the Thursday prior to the May Bank Holiday, and argued that this would in many cases allow insufficient time to make the necessary changes to price tickets and signage.

Senator Terry Le Sueur commented:

"I have taken on board the retail industry's concern, and agree that it is in the consumer’s interest that we allow sufficient time to ensure that the public get clear and concise information at the point of sale."

"I shall be asking the States to discuss this proposal on 1st April. Providing the States agree, allowing these extra few days should ensure that we minimise disruption and ensure a smooth transition to GST at the beginning of May"

If the delay is approved, Vehicle Emissions Duty, which replaces Vehicle Registration Duty, will similarly be delayed until May 6th, 2008.

.

 


IMPORTANT NOTICE: TAX-NEWS.COM has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright TAX-NEWS.COM 1999 to 2007. Contact us for further information.