Consultation - change to Income Tax (Jersey) Law
The purpose of the consultation is to consider the introduction of a deemed rental charge on all non finance, non Jersey owned companies so as to ensure that these 0% rated companies contribute to Jersey tax revenues under the new zero / ten tax structure.
It is felt by some that it is unfair that such companies pay no tax in Jersey, notwithstanding that it is virtually certain that all of them will pay tax in the UK on these profits when remitted by dividend. It is proposed to charge such companies at the Schedule A tax rate of 20% on the deemed rental income, with a tax credit being given against the tax assessment to reflect the shareholding in the company held by any Jersey resident shareholders.
For full details, please refer to www.gov.je/TreasuryResources/IncomeTax/GreenPaperConsultation.htm
We welcome your views on what is being proposed.