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WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES BY DEPUTY G.P. SOUTHERN OF ST. HELIER
ANSWER TO BE TABLED ON TUESDAY 18th JANUARY 2011
Question
Will the Minister state how many companies are subject to a zero rate of tax in 2009 or 2010 and give a breakdown of how many of these companies are locally owned and potentially subject to "deemed distribution" and how many are foreign owned and would previously have been described as "exempt companies"?
Answer
In 2009 approximately 29,900 companies registered at the JFSC were subject to tax at 0%. Of these approximately 41% (c12,300) were wholly or partly owned by Jersey residents and would therefore subject to the deemed distribution rules, if they do not actually distribute their profits. Approximately 59% are foreign owned (17,600).
The data for 2010 has not been obtained but it would be expected to be similar.