Just Over 3 Weeks Left To Register For GST In Jersey

by Carla Johnson, Investors Offshore.com, London

14 April 2008

Local businesses in Jersey are being reminded by the Treasury & Resources Department that GST will be formally introduced in on Tuesday May 6th - just over three weeks away.

By then, all firms with an annual taxable turnover of more than GBP300,000 must, by law, have registered with the Income Tax Department.

The GST team has registered more than a thousand separate entities for the 3% Goods and Services Tax, but businesses are being reminded by the government that if they haven’t yet registered, time is running out.

They can still register online, or printed forms are available from - and should be submitted to - the Income Tax Department, or the Customer Services Centre, in Cyril Le Marquand House.

Once businesses have registered they will be invited to an educational evening with the GST team, where they can ensure that they are ready for the new tax, and ask advice on issues such as accounting procedures and staff training.

Any business with a taxable turnover of less than GBP300,000 does not have to register for GST, but may do so.

Comptroller of Income Tax Malcolm Campbell commented this week that:

“We have been very busy trying to help everybody with any queries they have about GST. But my message today is that if you are in any doubt, contact us for help and advice, because it is an offence not to register if you are liable to do so.”

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