Taxation in Jersey

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The top rate of Jersey’s controversial new retail tax could be halved, if a proposal from Senator Philip Ozouf is adopted by the States. Read more at https://jerseyeveningpost.com/news/2018/03/12/senator-tries-again-to-halve-new-retail-tax/#5ml3TeTO0Og7iPoG.99

Senator Lyndon Farnham, who earlier this year announced that he intended to stand for Chief Minister if he is re-elected in May, said that setting taxes too high can actually result in less revenue being raised for the States.

After a statement from the Jersey Government that it does not wish to host promoters of abusive tax avoidance schemes to UK participants, Jersey promoters will be required, from October 1, 2014, to inform the Financial Services Commission of any schemes falling under the ambit of the UK’s Disclosure of Tax Avoidance Scheme (DOTAS) regime.

Tax rises are needed to help Jersey pay for its ageing population, Social Security Minister Francis Le Gresley has warned. Senator Le Gresley said the States’ £1bn welfare fund was in a good position but welfare spending would soon outstrip contributions.

Jersey and Hungary signed a Tax Information Exchange Agreement (TIEA) at the Hungarian Embassy in London on Tuesday, 28 January, 2014. The Agreement was signed by the Minister for External Relations, Senator Sir Philip Bailhache, and the Hungarian Ambassador, His Excellency Janos Csak.

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