Skip to main content Skip to accessibility
This website is not compatible with your web browser. You should install a newer browser. If you live in Jersey and need help upgrading call the States of Jersey web team on 440099.
Government of Jerseygov.je

Information and public services for the Island of Jersey

L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

Multinational Corporate Income Tax (Jersey) Law 202-, and Multinational Taxation (Global Anti-Base Erosion – IIR Tax) (Jersey) Law 202-

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

An accurate record of “Ministerial Decisions” is vital to effective governance, including:

  • 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

  • providing a record of decisions and actions that will be available for examination by States Members, and Panels and Committees of the States Assembly; the public, organisations, and the media; and as a historical record and point of reference for the conduct of public affairs

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made 7 October 2024:

Decision Reference:  MD-TR-2024-757

Public

Subject: Lodging: Amendments to P.54/2024 & P53/2024

 

Report Title: WR - Amendments to P.54/2024 & P53/2024

Public

Decision(s):

The Minister decided to request that the Greffier of the States lodge 'au Greffe' amendments to the Draft Multinational Corporate Income Tax (Jersey) Law 202- and the Draft Multinational Taxation (Global Anti-Base Erosion – IIR Tax) (Jersey) Law 202-.

Reason for Decision(s):

On 7th August 2024, the Greffier of the States lodged the Draft Multinational Corporate Income Tax (Jersey) Law 202- and the Draft Multinational Taxation (Global Anti-Base Erosion – IIR Tax) (Jersey) Law 202-.  The draft Laws will, if approved, ensure that Jersey maintains its political commitment made in 2023, and reaffirmed in 2024, regarding the Organisation for Economic Co-operation and Development (OECD)/G20’s Pillar Two implementation - to introduce an Income Inclusion Rule and a Domestic Minimum Tax in Jersey for accounting periods beginning on or after 1st January 2025.  Since lodging, officers have engaged with stakeholders and reviewed the draft legislation texts and determined that minor amendments are necessary to ensure that the draft Laws are consistent with the OECD Model Rules and to provide administrative simplicity where possible.

Resource Implications: Implementing Pillar Two involves the introduction of both a new top up tax and a new domestic corporate income tax for large multinational groups of companies (MNEs) with global annual turnover in excess of €750 million. The Pillar Two regime will generate additional tax revenues for Jersey but it is a substantial project that will require the development and introduction of a new Information Technology system, as well as additional experienced international tax staff for Revenue Jersey. Funds have been allocated in the Government Plan for the cost of developing and implementing a new Revenue Jersey Information Technology system to administer the introduction of Pillar Two in Jersey. Over the past few years, additional Revenue Jersey personnel and staff have been recruited to work on the development of the Pillar Two policy. Additional staffing will be needed in the future to support the effective functioning of Pillar Two compliance to over 1,000 entities of MNE groups that will be impacted by the introduction of Pillar Two in Jersey.    No resources additional to this are required, to support these amendments.

 

Action Required: The Greffier of the States to lodge 'au Greffe' amendments to the Draft Multinational Corporate Income Tax (Jersey) Law 202- and the Draft Multinational Taxation (Global Anti-Base Erosion – IIR Tax) (Jersey) Law 202-.

Signature:

 

 

Signed By: Deputy I. Gorst of St. Mary, St. Ouen, and St. Peter

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

Back to top
rating button