Geoff Cook, Chief Executive, Jersey Finance Limited, has welcomed the proposal from Jersey’s Treasury Minister to amend elements of the zero ten (0/10) corporate taxation regime.
The Chief Minister’s Department announced today (17 May) that a proposal has been lodged for debate by the States of Jersey to remove the deemed distribution and attribution rules of Jersey’s 0/10 regime with effect from January 2012.
Geoff Cook commented:
“I believe it is helpful that the Jersey Government is seen to be taking a lead on this issue, by proposing that the measures which the EU have voiced concerns about are removed, while at the same time retaining the main features of Jersey’s corporate tax regime, in particular the key element that most companies will continue to pay tax at 0%.
“We have maintained throughout that zero-ten remains a viable, strong regime for Jersey and its finance industry, providing a tax regime that is easily understood by service providers and their clients. It ensures we remain competitive on tax with other jurisdictions and offer stability, which is a key component for any jurisdiction in these volatile times.”
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