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WQ.65/2019
WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES BY THE DEPUTY OF ST. PETER
ANSWER TO BE TABLED ON TUESDAY 29th JANUARY 2019
Question
Will the Minister advise –
- how many residents, if any, who took up residence in Jersey as High Value Residents (HVR) have gained Entitled status by living in the Island for more than 10 years but have continued to be taxed at the same rate as HVRs; and
- what the increase in annual tax income would be if HVRs were taxed on the same basis as other Jersey residents after gaining Entitled status?
Answer
All High Value Residents' ("HVRs") gain "entitled status" immediately their status is approved under Regulation 2(1)(e) of the Control of Housing and Work (Residential and Employment Status) (Jersey) Regulations 2013.
- (a) Looking at the latest completed tax year of assessment for which audited figures are available (2016) there were 93 HVR taxpayers that had relocated to Jersey by 2007 and were still resident in 2016.
- (b) It is assumed this question is referring to the theoretical increase in annual income tax that would arise if an HVR was not able to access any preferential tax rates available since 2005.
Fewer than 12 HVR taxpayers relocated to Jersey during the period 2005 to 2007 - and were still resident in 2016. It is the policy of the Comptroller of Taxes not to disaggregate or analyse data on groups consisting of fewer than 12 persons in order to maintain taxpayer confidentiality in accordance with his Oath of Office. For HVR taxpayers that relocated prior to 2005 it would not be possible to provide an answer without carrying out a complete review of the income of those taxpayers.