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 A
Tax Structure For 2020
Jersey, like the UK's other Crown dependencies
of Guernsey and the Isle of Man, is facing up
to a moment of truth as it struggles to fit its
corporate tax regime within the Iron Maiden of
the EU's Code of Conduct Committee. For the last
few years, Jersey has been operating a 'zero/10'
regimes in which the financial sectors is taxed
at 10% while other types of company are exempt
from income taxation.
Jersey
hoped this would be enough for it to escape the
reach of the Committee, but it was not to be -
the island has been too successful, so its competitors
in Continental Europe insist on 'transparency'
and a 'level playing field', hoping to force Jersey
into taxing all companies the same.
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Jersey’s
Standing Enhanced by Series of Independent Endorsements
By Geoff Cook, chief executive Jersey
Finance Limited |
At
a time of increasing international scrutiny for
international finance centres as a result of the
global financial crisis, leading jurisdictions
such as Jersey with a solid reputation and a sound
regulatory pedigree have emerged in a stronger
position.
[ Read
the full article ] |
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|  Fund
Management A Jersey Asset
Jersey is not alone in competing against major
EU fund management centres such as Ireland and
Luxembourg, but has done just as well as its competitors,
and better than most of them. Collective Investment
Funds are supervised by the Financial Services
Commission (FSC) under the Collective Investment
Funds (Jersey) Law 1988, and if 'recognised' are
allowed to be marketed in the UK.
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| Featured
Firm |
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Offshore
solutions for your online business
The
Basel Group is an independently owned provider
of trust and company formation, legal and accountancy
services with a presence in several international
finance centres. Our eBusiness division is a leading
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for online businesses to fulfil to the UK and
mainland Europe.
[
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more about Basel ] |
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 Jersey
Can Increase Your Wealth
Trust
management, particularly for wealthy UK individuals,
was Jersey's traditional business. Successive
tightenings of UK anti-avoidance legislation have
reduced the possibilities for UK citizens, but
Jersey's trust business has continued to grow
based on a more international clientele, and following
the introduction of the purpose trust, a surge
in corporate trust work.
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 The
Success Of CISX
The Channel Islands Stock Exchange (CISX) commenced
operations on 27 October, 1998 with 23 founder
members. Its aim is to provide trading and listing
of investment funds, debt instruments and shares
in companies and to bring the expertise available
in the Channel Islands to the expanding network
of international businesses requiring expert offshore
financial services in the European time-zone.
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 Banking
Attracts Worldwide Depositors
Statistics
released by the JFSC in April 2010 showed that
over the previous nine years, total bank deposits
held in Jersey have increased by more than GBP50bn,
achieving a peak in 2007. At the end of September
2009, there were 47 banks in Jersey, holding deposits
of GBP170.6bn.
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The
Tax-News.com Jurisdiction Review Series
Coming
in 2010: Cyprus, Hong Kong, Switzerland, Dubai,
Malta, BVI
Contact
us to get involved: info@tax-news.com |
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Tax-News.com
Jersey Review 2010-2011 copyright Tax-News.com
2010. All rights reserved.
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. |
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