Draft Finance (Budget 2009) (Jersey) Law 200-.

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demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision
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A decision made (17/10/2008) regarding: Draft Finance (Budget 2009) (Jersey) Law 200-.

Decision Reference: MD-TR-2008-0113
Decision Summary Title:	Draft Finance (Budget 2009) (Jersey) Law 200-		Date of Decision Summary:	16th October 2008
Decision Summary Author:	Chris Haws Head of Financial Planning		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title:	Draft Finance (2009 Budget) (Jersey) Law 200-		Date of Written Report:	16th October 2008
Written Report Author:	Chris Anderson Assistant Law Draftsman		Written Report : Public or Exempt?	Public
Subject: Draft Finance (Budget 2009) (Jersey) Law 200- comprising required changes to give effect to the Impôts Duty and Stamp Duty proposals in the 2009 Budget
Decision(s): The Minister approved the Draft Finance (Jersey) Law 200- to be lodged “au Greffe” on Tuesday 21 October 2008 and signed the relevant Human Rights Compatibility Statement.
Reason(s) for Decision: Draft Finance (Jersey) Law 200- comprising required changes to give effect to the Impôts Duty and Stamp Duty proposals in the 2009 Budget and to be lodged 6 weeks prior to debate on 2nd December.
Resource Implications: The financial and manpower implications are clearly identified at Section 9 of the Budget Statement 2009
Action required: Head of Financial Planning to forward the Draft Finance (Budget 2009) (Jersey) Law 200- to the States Greffe to be printed and lodged on Tuesday 21 October 2008 and inform the Greffe this Ministerial Decision is embargoed until 00:01 21st October 2008
Signature:		Position: Senator T A Le Sueur, Minister for Treasury and Resources
Date Signed: 17th October 2008		Date of Decision: 17th October 2008

Draft Finance (Budget 2009) (Jersey) Law 200-.

Finance (2009 Budget) (Jersey) Law 200-

Report

This draft Law gives effect to proposals described in the Budget Statement 2009.

Financial and manpower implications

The financial and manpower implications are described in the Budget Statement.

Explanatory Note

Article 1 sets the standard rate of income tax for 2009 at 20 pence in the pound. This is subject to any provision of the Income Tax (Jersey) Law 1961 that provides for tax to be charged at a different rate.

Article 2 amends the Stamp Duties and Fees (Jersey) Law 1998 in respect of the special rate of stamp duty available to first-time buyers. The changes are –

(a) an increase from £300,000 to £400,000 in the maximum value of the property (or of the amount borrowed) for which the special rate is available; and

(b) the removal of the stamp duty payable by first-time buyers on the first £300,000 of the value of the property (or of the amount borrowed).

Article 3 amends the Customs and Excise (Jersey) Law 1999 so as to increase excise duty payable on spirits, wines, beer, cider and other alcoholic beverages by 5.6% and to increase the excise duty on tobacco by 6%.

Article 4 provides for the citation of the Law and for the amendments made by Articles 2 and 3 to come into force on 1st January 2009.

Finance (2009 Budget) (Jersey) Law 200-

Arrangement

Article

Finance (2009 Budget) (Jersey) Law 200-

A LAW to set the standard rate of income tax for 2009, to amend further the Stamp Duties and Fees (Jersey) Law 1998 and to amend further the Customs and Excise (Jersey) Law 1999.

Adopted by the States [date to be inserted]

Sanctioned by Order of Her Majesty in Council [date to be inserted]

Registered by the Royal Court [date to be inserted]

THE STATES, subject to the sanction of Her Most Excellent Majesty in Council, have adopted the following Law –

1 Standard rate of income tax for 2009

There shall be levied and charged in Jersey for the year 2009, in accordance with, and subject to the provisions of, the Income Tax (Jersey) Law 1961, income tax at the standard rate of 20 pence in the pound.

2 Stamp Duties and Fees (Jersey) Law 1998 amended

In Part 1 of the Schedule to the Stamp Duties and Fees (Jersey) Law 1998 –

(a) for item 1(a) there shall be substituted the following paragraph –

“(a)

Where –

(i) the borrowing relates to a contract of purchase falling to be charged under item 13(b) or a contract of lease, or transfer of lease, falling to be charged under item 13(m),

(ii) the borrowing and the contract relate to the same property,

(iii) the acknowledgement and the contract were registered in the Public Registry and passed before the Royal Court on the same day, and

(iv) the borrowed amount to be acknowledged does not exceed £400,000,

if that amount –

(A) does not exceed £300,000

NIL

Billet

Greffier

(B) exceeds £300,000 but does not exceed £400,000

NIL in respect of the first £300,000 plus 25p for each £100 or part of £100 in excess thereof, subject to a minimum of £25

Billet

Greffier”;

(b) for item 13(b)(i) to (iv) there shall be substituted the following sub-paragraphs –

“(i) does not exceed £300,000	NIL	Contract	Greffier
(ii) exceeds £300,000 but does not exceed £400,000	NIL in respect of the first £300,000 plus £1 for each £100 or part of £100 in excess thereof	Contract	Greffier”;

“(d)

Of creation of rente nouvelle, or of one or more simple conventionnel hypothecs, in association with a contract of purchase falling to be charged under paragraph (b) of this item or in association with a contract of lease, or transfer of lease, falling to be charged under paragraph (m) of this item, where –

(i) the contract of creation of the rente nouvelle, hypothec or hypothecs and the contract of purchase, lease or transfer of lease relate to the same property,

(ii) both contracts were registered in the Public Registry and passed before the Royal Court on the same day, and

(iii) the capital value of the rente nouvelle or the capital sum hypothecated does not exceed £400,000,

if that value or sum –

(A) does not exceed £300,000

NIL

Contract

Greffier

(B) exceeds £300,000 but does not exceed £400,000

NIL in respect of the first £300,000 plus 25p for each £100 or part of £100 in excess thereof, subject to a minimum of £25

Contract

Greffier

(d1)

Of creation of rente nouvelle, or of one or more simple conventionnel hypothecs, where the borrower produces to the designated officer a letter from the Comptroller of Income Tax confirming that the relevant contracts qualify for exemption from income tax pursuant to Article 115(a), (aa) or (ab) of the Income Tax (Jersey) Law 1961

£50

Contract

Greffier

(d2)

Of creation of rente nouvelle, or of one or more simple conventionnel hypothecs, in any case to which neither paragraph (d) nor paragraph (d1) of this item applies

50p for each £100 or part of £100 of the capital value of the rente nouvelle or the capital sum hypothecated, subject to a minimum of £10

Contract

Greffier”;

(d) for item 13(m)(i) to (iv) there shall be substituted the following sub-paragraphs –

“(i) does not exceed £300,000	NIL	Contract	Greffier
(ii) exceeds £300,000 but does not exceed £400,000	NIL in respect of the first £300,000 plus £1 for each £100 or part of £100 in excess thereof	Contract	Greffier”;

3 Customs and Excise (Jersey) Law 1999 amended

In the Customs and Excise (Jersey) Law 1999, in Part 2 of Schedule 1, for paragraphs 1 to 6 there shall be substituted the following paragraphs –

“1 Spirits

There shall be charged –

(a) on all spirits, produced by a small independent distiller of spirits, which are imported into or produced or manufactured in Jersey, excise duty at the rate of £11.72 per litre of alcohol; and

(b) on all other spirits imported into or produced or manufactured in Jersey, excise duty at the rate of £23.43 per litre of alcohol.

2 Wines

There shall be charged, on all wines imported into or produced or manufactured in Jersey, excise duty at the following rates –

Strength of wines	Rate per hectolitre
Wines exceeding 1.2 % volume but not exceeding 5.5 % volume	£57.06
Wines exceeding 5.5 % volume but not exceeding 15 % volume	£149.75
Wines exceeding 15 % volume but not exceeding 22 % volume	£183.51
	Rate per litre of alcohol
Wines exceeding 22 % volume	£23.43.

3 Beer

There shall be charged –

(a) on all beer, produced by a small independent brewer, which is imported into or produced or manufactured in Jersey, excise duty at the rate of –

(i) £24.74 per hectolitre of beer not exceeding 4.9% volume, and

(ii) £37.22 per hectolitre of beer exceeding 4.9% volume; and

(b) on all other beer imported into or produced or manufactured in Jersey, excise duty at the rate of –

(i) £49.47 per hectolitre of beer not exceeding 4.9% volume, and

(ii) £74.44 per hectolitre of beer exceeding 4.9% volume.

4 Cider

There shall be charged –

(a) on all cider, produced by a small independent cider-maker, which is imported into or produced or manufactured in Jersey, excise duty at the rate of –

(i) £23.15 per hectolitre of cider not exceeding 4.9% volume, and

(ii) £34.83 per hectolitre of cider exceeding 4.9% volume; and

(b) on all other cider, imported into or produced or manufactured in Jersey, excise duty at the rate of –

(i) £46.31 per hectolitre of cider not exceeding 4.9% volume, and

(ii) £69.65 per hectolitre of cider exceeding 4.9% volume.

5 Other alcoholic beverages

There shall be charged, on all alcoholic beverages imported into or produced or manufactured in Jersey (other than wines, beer or cider exceeding 1.2% volume but not exceeding 5.5% volume), excise duty at the rate of £23.43 per litre of alcohol.

6 Tobacco

There shall be charged, on all tobacco imported into or grown, produced or manufactured in Jersey, excise duty at the following rates –

(a) on unprocessed tobacco	£163.74 per kilogramme
(b) on cigars	£177.17 per kilogramme
(c) on cigarettes	£221.55 per kilogramme
(d) on hand-rolling tobacco	£188.31 per kilogramme
(e) on other types of processed tobacco not included in sub-paragraphs (b) to (d)	£171.48 per kilogramme.”.

4 Citation and commencement

(1) This Law may be cited as the Finance (2009 Budget) (Jersey) Law 200-.

(2) Articles 2 and 3 shall be deemed to come into force on 1st January 2009.