Corporate Tax In Jersey Still A Possibility

by Amanda Banks, Tax-News.com, London

13 November 2001

Jersey's Finance and Economics Committee has not dismissed the possibility of establishing a separate corporation tax for businesses on the Island. President of the Committee, Senator Frank Walker, told the This Is Jersey news service that the matter will be raised as part of discussions between the Committee and the business community over ways of increasing Jersey's income.

Senator Walker said: 'One question people may ask is why change a system that has been in place for 50 years?'

He continued: 'As things stand, no decisions for the 2003 budget have been taken whatsoever, but meetings, discussions and consultations will take place with a variety of people in the Island to determine the approach we take. The possibility of introducing a separate corporation tax for businesses cannot be ruled out and I think such a tax is workable on the Island but it would have to be carefully considered.'

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