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1240/5(8302)
WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES BY THE CONNÉTABLE OF ST. JOHN
ANSWER TO BE TABLED ON TUESDAY 13th MAY 2014
Question
Would the Minister Provide figures for the amount of taxation received from each area of the economy for the years 2012 and 2013?
Answer
Figures are provided below for (i) Income Tax and (ii) GST. (i) Company Income Tax
Sector 2012 2013 Financial Sector 59,275,000 69,778,000
Real Estate 12,238,000 11,644,000 Transport and Communications 2,421,000 2,041,000 Other Business Services 2,575,000 1,775,000 Construction and Quarrying 1,092,000 1,152,000 Agriculture and Horticulture 358,000 739,000 Hotels and Restaurants 714,000 675,000 Wholesale and Retail Distribution 538,000 553,000 Other Community, Social and Personal Services 59,000 146,000 Health and Social 45,000 65,000 Manufacturing 17,000 21,000 Total 79,332,000 88,589,000 Adjustment for accruals and year of assessment basis 157,000 9,893,000 Corporate Income Tax 79,489,000 98,482,000
Notes to Income Tax figures:
The above analysis is only for corporate entities, It does not include partnerships or self-employed.
The industry classification is on a Taxes Office basis. This classification is in the process of being revised to bring it into line with the classification used by GST and other States Departments, in order to provide more consistent reporting.
The classification above is based on the primary activity of the business, which may not be the main source of tax income (for example, many businesses receive rental income, which is taxed at 20%, whilst their primary income from a trade is taxed at 0%)
In order to be able to report on tax revenues by industry, information is only available based on year of assessment, rather than financial year. Year of Assessment 2012 is almost exclusively recorded in financial year 2013, and Year of Assessment 2011 is almost exclusively recorded in financial year 2012.
There are two primary reasons for differences between Year of Assessment basis and Financial Year basis - accrual adjustments and amendments to assessments relating to other years. The net impact of these is shown separately. The main reason for the £9.9m 2013 figure is exceptional one-off revenue of £10.2m, representing UK source property-related profits from a previous Year of Assessment.
- Personal Income Tax
It is not possible to analyse Personal Income Tax by area of the economy as a significant element of personal income is unearned, and cannot therefore be allocated to an industry. The comparable figures to the company tax data above are:
Financial Year 2012 £353,993,000 Financial Year 2013 £356,666,000
Amounts are as at 31 December 2013 and are as shown in The States of Jersey Financial Report and Accounts 2013, Revenue Note (9.5).
- GST
Sector | 2011 (Previous Basis) | 2012 (Previous Basis) | 2012 (New Basis) | 2013 (New Basis) |
Retail trade excluding trade & repair of vehicles and motorcycles | 18,469,000 | 23,284,000 | 23,518,000 | 23,160,000 |
Wholesale trade, excluding trade and repair of vehicles and motorcycles | 7,192,000 | 8,500,000 | 8,625,000 | 8,443,000 |
Accommodation and food service activities | 6,320,000 | 8,194,000 | 7,890,000 | 8,301,000 |
Construction | 5,138,000 | 5,295,000 | 7,209,000 | 5,067,000 |
Electricity, gas, steam and air conditioning supply | 3,544,000 | 4,542,000 | 4,426,000 | 4,388,000 |
Information and Communication | 3,639,000 | 4,478,000 | 4,405,000 | 4,036,000 |
Trade and repair of vehicles and motorcycles | 3,083,000 | 3,774,000 | 3,601,000 | 3,819,000 |
Professional, scientific and technical activities | 3,067,000 | 3,548,000 | 3,252,000 | 3,316,000 |
Administrative and support service activities | 2,005,000 | 2,362,000 | 2,375,000 | 2,285,000 |
Real Estate activities | 694,000 | 1,766,000 | 1,083,000 | 2,114,000 |
Manufacturing | 1,774,000 | 1,901,000 | 2,056,000 | 1,709,000 |
Financial and Insurance activities | 405,000 | 545,000 | 443,000 | 1,102,000 |
Agriculture, forestry and fishing | 533,000 | 888,000 | 824,000 | 1,100,000 |
Arts, entertainment and recreation | 889,000 | 1,114,000 | 1,125,000 | 1,092,000 |
Transport and Storage | 600,000 | 841,000 | 757,000 | 821,000 |
Water supply, sewerage, waste management and remediation activities | 540,000 | 739,000 | 667,000 | 720,000 |
Mining and Quarrying | 657,000 | 540,000 | 595,000 | 535,000 |
Other service activities | 221,000 | 285,000 | 283,000 | 297,000 |
Education | 7,000 | 84,000 | 81,000 | 104,000 |
Human health and social work activities | 6,000 | 13,000 | 5,000 | 44,000 |
Activities of households as employers; undifferentiated goods and services | (3,000) | (47,000) | 44,000 | (1,000) |
ISE Status | (37,000) | (36,000) | (20,000) | (22,000) |
DIY House builders | 4,000 | (129,000) | (80,000) | (82,000) |
Charity | (797,000) | (1,032,000) | (1,082,000) | (1,332,000) |
Public administration and defence; compulsory social security | (3,680,000) | (4,100,000) | (4,178,000) | (4,214,000) |
Adjustment for accruals and return basis | 691,000 | 555,000 | - | - |
Total Domestic GST | 54,961,000 | 67,904,000 | 67,904,000 | 66,802,000 |
Import GST |
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2,393,000 | 2,901,000 | 2,901,000 | 3,161,000 | |
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8,904,000 | 9,255,000 | 9,255,000 | 9,363,000 | |
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66,258,000 | 80,060,000 | 80,060,000 | 79,326,000 |
Notes to GST figures:
The table reflects the accrued revenue position that reconciles directly to the States of Jersey accounts (New Basis). Previously it has only been possible to produce industry information based on the period end of returns- a single return can span two years - with a separate adjustment to account for accruals. The written answer to States Question reference 1240/5(7867) by Deputy Vallois, tabled on Tuesday 8th October 2013, presented figures on this previous basis. These figures are reproduced in this answer.
Negative values are repayments (i.e. the business has paid more GST on its expenditure than it has on its sales, normally because it is making some zero-rated sales and is therefore entitled to a GST refund).
It is important to note that these figures are not directly comparable to other measures such as retail sales figures, for the following main reasons:
· GST includes both revenue and capital spend, so major capital projects can distort return values.
· Not all businesses are GST registered (turnover below threshold).
· Some sales will not have GST applied (e.g. zero rated/exempt sales such as domestic house building and export of goods)
The industry analysis is a modified version of the UK 2007 Standard Industry Classification.