Collecting company information consultation

About the consultation

We are seeking your views because we need better data to understand both the nature of activities being undertaken by companies in the Island and the profitability of those companies.

Background

When the current company tax regime was introduced in 2009, most companies in Jersey became subject to income tax at the new general rate of 0%. As a result, the obligation on these companies to submit annual tax computations and accounts to the Taxes Office was reduced. Since 2009, companies have been required to submit details of their income and expenses only where they have income that is subject to tax at either 10% or 20%.

Why are you gathering this information?

We need sufficient information to determine an approximate level of profits for companies that pay income tax at the 0% rate. This will help us better understand the economy.  The data we currently collect is insufficient for this purpose.

We aren’t going to look at information on an individual company basis. We are going to produce statistics by looking at the information we gather as a whole.

How will the information gathered be used?

The additional information needed to inform decisions about tax policy will be collected by the States of Jersey Statistics Unit. The Statistics Unit has complete operational independence in producing and publishing official statistics. It has an independent oversight group and is the central statistical office for the States of Jersey.

All information compiled by the Statistics Unit is treated with the strictest confidence and is only used by the unit to produce aggregate numbers. Furthermore, individual company, household or personal information is not passed by the Statistics Unit to any other States department or third party.

Does my company have to complete the questionnaire?

This is a voluntary process – so your company does not have to complete a questionnaire.

However, if we don’t gather sufficient information, it may be necessary to consider ways of making it mandatory to provide data. This could be by requiring all companies to submit a return disclosing details of their profits to the Comptroller of Taxes, or in some other way.

Download collecting company information white paper consultation (size 191kb)

How to submit comments to the consultation

Please submit your comments by post or via email.

Email Tax Policy

Write to us:
Director of Tax Policy
Treasury and Resources Department
Cyril Le Marquand House
PO Box 353
St Helier
JE4 8UL