Speaking to the UK's Sunday Telegraph, President of Jersey's Policy and Resources Committee, Senator Frank Walker revealed that the Island would be seeking to restrict access to a VAT 'loophole' available to UK retailers establishing operations there.
The provision in European law whereby retailers operating outside of the European Union can sell products priced at under £18 to EU consumers free of VAT has seen many large online retailers such as Tesco, Amazon, Asda and Woolworths setting up mail order arms in Jersey, a move which has outraged their UK-based counterparts.
However, Senator Walker told the Telegraph at the weekend that from now on, only UK retailers seeking to establish "legitimate operations", which employ islanders and pay Jersey taxes, will be permitted to locate mail order operations on the Island.
"The publicity we have received regarding this practice has been very unwelcome. It is a real concern - it has been damaging," he explained.
However, he went on to add that licences already granted to such firms will not be revoked.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
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.
Write a comment