According to a BBC Jersey report, the Island's Chamber of Commerce is said to be reconsidering its support for the goods and services tax proposed by the States authorities to compensate for the planned introduction of a zero rate of corporation tax.
The trade organisation had accepted the need for a GST, albeit with reservations, as no suitable alternatives had been put forward.
However, following the recent publication of a consultation paper on tax reform in the jurisdiction, the Chamber is understood to have re-examined its position.
The paper, entitled ‘Jersey’s Taxation Structure – A Goods and Service Tax – The right way for Jersey?’ outlined the reasons for considering a goods and services tax (GST) and the various alternatives that are available, and was produced by Crown Agents, a UK Consultant, on behalf of the Finance and Economics Committee.
The deadline for comment was December 3, and the responses are now being examined.
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