Review: Zero/Ten Design Proposal

About

Examination of proposed zero/ten legislation

Terms of reference

To review the draft Zero/ten Design Proposal and subsequent draft legislation, and to assess its suitability as a replacement for Jersey’s current tax system, with a particular focus on the following issues –  

1. Compliance with the EU Code of Conduct on business taxation; OECD’s Harmful Tax Competition initiative; and the European Convention on Human Rights.

2. The effect on Jersey’s tax revenues and the resource implications of the legislation.

3. The effect on the Financial Services Industry and the wider effect on Jersey’s economy.

4. The distributional effects and the equity of the proposed Zero/Ten Design Proposal and the potential for avoidance.

This will include a review of –

• Look through arrangements

• Regulation of Undertakings and Development (‘RUDL’) charge

• Other measures for maintaining the tax base

• Effectiveness; fairness and efficiency of anti-avoidance measures

• Submissions
  ZeroTen Design Proposal - P Lucas (Attac and Tax Justice Network) - Submission - 20 June 2006 - 20 June 2007 ZeroTen Design Proposal - Jurat P G Blampied, OBE, The Taxation of Immovable Property - Submission - - 21 November 2006 ZeroTen Design Proposal - J P Frith - Submission - 18 November 2006 ZeroTen Design Proposal - P Ellison (Royal Institution of Chartered Surveyors) - Submission - 27 Sep - 27 September 2006 ZeroTen Design Proposal - R Barnes (Barnes Daniels and Partners) - Submission - 27 September 2006
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• Transcripts
  Zero Ten Review - Treasury and Resources Minister and Comptroller of Income Tax - Transcript - 16 August 2007 Zero Ten - Jurat P G Blampied - Transcript - 7 August 2007 ZeroTen Design Proposal - Minister for Treasury and Resources - Transcript - 15 December 2006 ZeroTen Design Proposal - Jurat Blampied, OBE - Transcript - 15 November 2006 ZeroTen Design Proposal - Jersey Finance Fiscal Strategy Group Representatives - Transcript - 15 November 2006
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• Research
  BDO Advice - Deemed Rent Proposal - 25 Jan 2007 The Economic Impact of Guernsey's Tax Strategy (paper 2) - 1 Apr 2006 Oxera Report - What are the fiscal options for Guernsey after introducing the 0%/10% corporate tax r - 1 Apr 2006 The Economic Case for a 0%/10% Corporate Tax Rate Structure in Guernsey (paper 1) - 1 Mar 2006 States of Guernsey - Future Taxation Strategy - Second Consultation Document - 1 Sep 2005 States of Guernsey - Future Taxation Strategy - Consultation Document - 1 Mar 2005 States of Jersey - PwC report on taxation matters - 1 May 2004 Finance and Economics Committee - Facing up to the future - 1 Feb 2004