27 July 2007
The Goods and Services Tax Law has today received Royal Assent. This prepares the way for the introduction of GST in the Island in the spring of 2008.
The Law is the primary legislation which provides the framework for GST. It also allows the States of Jersey to pass secondary legislation, in the form of regulations, to cover technical and operational matters necessary to bring the new tax into effect and to ensure its future efficient operation.
The regulations allow changes to be made to the GST legislation without the need for further United Kingdom approval and authorise the Comptroller of Income Tax, who is responsible for the administration and collection of GST, to decide policies and procedures. This means the States will be able to react quickly to changing circumstances and close any loopholes in the Law without delay.
As a result of responses to a series of public consultations about GST over the past three years, changes were made to the final version of the Law sent for Royal Assent and the proposed regulations were redrafted.
These will now be the subject of a further four-week public consultation, beginning Friday 3 August. Responses to the consultation will be taken into account in drafting a final version of the regulations which will be debated by the States on 23 October.
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