Tax review ahead of EU assessment

A consultation on the impact of change to Jersey's corporate tax has begun.

Senator Philip Ozouf, the Treasury Minister, said Jersey must be ready for international tax changes, and this survey would consider the effect.

Last year the Chief Minister said the zero-ten scheme may have to be changed if it fails to meet the latest EU tax code of conduct.

An EU assessment of the scheme is due to take place in September.

The zero-ten scheme, introduced in 2008, means many businesses based in the island pay no corporation tax.

Senator Ozouf said: "This consultation document sets out the background to, and reasons behind, this review of business taxation, as well as the principles that should determine Jersey's corporate tax regime.

"I would like to know what islanders think the impact of any changes would be on Jersey as a place in which to do business.

"International views on tax are changing and Jersey needs to be ready to respond.

"But it will only do so having properly considered the impact on the island's economy and only then if it is in the best interest."