CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Jersey Announces Tax Amnesty

Jersey Announces Tax Amnesty

by Jason Gorringe, Tax-News.com, London

06 April 2017


Jersey has launched a tax amnesty for prior unpaid taxes that will be offered until the end of 2017.

This means islanders will be able to tell Jersey's Taxes Office if they've made a mistake, or failed to declare income on their tax return, without having to pay penalties.

An online form will be available for people to correct any past mistakes with income tax or GST returns. If a disclosure is made, the tax owed will still need to be paid, but the Comptroller of Taxes will not apply any penalties or interest, and criminal proceedings will generally not be instigated. A 10 percent late payment surcharge may be applied if it is chargeable by law.

Minister for Treasury and Resources Alan Maclean said: "The disclosure opportunity will allow individuals and businesses to come forward and make a voluntary disclosure of any errors in their tax affairs. This includes anyone who has deliberately omitted income from their tax returns, or who has made a claim for allowances they weren't entitled to."

Comptroller of Taxes Richard Summersgill said: "Now is the time to make a voluntary disclosure. We'll soon be receiving data from local banks and, from September 2017, we will start receiving financial information from more than 50 countries under the Common Reporting Standard. The Minister for Treasury and Resources will also be asking the States Assembly to introduce tougher penalties in January 2018 for those few who choose not to comply with their tax obligations."

Further details on the terms and conditions of the tax amnesty, including who may benefit, are available on the Jersey Government website.

TAGS: individuals | compliance | tax | business | tax compliance | interest | law | Jersey | penalties | Tax | Tax Evasion

To see today's news, click here.

Leave a comment

Read our Posting Guidelines

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 






Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »