Construction industry tax revenues (FOI)

​Request

Total tax revenues from the construction industry in 2013, 2014 and 2015.

Response

Income tax revenues

The 2013 and 2014 income tax revenues below are based on those years of assessment. Both personal and corporate income tax revenues are included in the overall figure. Details of income tax for the 2015 year of assessment will not be available until 2017.

• 2013: £5.2m
• 2014: £5.9m

Notes:

• These are approximate figures only drawn from Taxes Office systems. Exact figures cannot be provided due to:

• The way information is stored on Taxes Office systems
• Some estimates of income being included
  
• Corporate taxpayers realising profits from the commercial development of property in the Island pay income tax on those profits at 20 percent and the revenues from those profits are included in the figures shown.

• Corporate taxpayers realising profits from other sectors of the construction industry (for example, contracting to a developer, plumbing services, electrical services etc) will be taxed on those profits at 0 percent.

• Personal taxpayers (sole traders, partnerships) realising profits in respect of any sector of the construction industry will be taxed on those profits within their personal income tax assessments. Tax on those profits is included above.

GST

GST revenues below are based on the calendar year and reflect the GST income from all sectors of the construction industry. Both corporate and personal taxpayers trading within the industry are included.

• 2013: £6.3m
• 2014: £6.6m
• 2015: £6.7m

Note: The figures include some estimated returns submitted by traders and are therefore subject to variation as and when returns are finalised.

All data has been extracted from Taxes Office systems on 15 August 2016.