Tax collected from financial services companies (FOI)

Request

A

What was the total amount of tax money collected, for the last fiscal year, from regulated financial services companies?

B

What was the total for the same time period collected from corporations that were not regulated financial services companies, Jersey Utility or property income companies?

Response 

A

Details of tax paid by financial services companies, which are subject to tax at 10 percent, were made public in reply to a previous Freedom of Information request and can be found on the following link:

Tax and social security contributions 2015 (FOI)

This data has also been published recently in answer to a States Question tabled by Deputy Higgins on 13 September 2016 and can be accessed via the following link:

Question tabled by Deputy Higgins

 B

Jersey has a general corporate income tax rate of zero percent.

No income tax was collected from zero percent companies except in respect of specific profits that are chargeable to tax at a rate greater than zero percent: income from Jersey property, quarrying in Jersey or from the importation and / or the supply of hydrocarbon oil. The relevant data is included in the Freedom of Information response mentioned above.