Tax income from high value residents (FOI)
Tax income from high value residents (FOI)Produced by the Freedom of Information office
Authored by States of Jersey and published on 27 July 2016.
The recent FOI request of 6 July 2016 listed numbers of wealthy residents arriving in the Island.
Please give the total amount of tax estimated to be collected per year from the number of residents listed as arriving in the Island in a particular year.
It is assumed the question refers to individuals that come to Jersey via obtaining entitlement under Regulation 2(1) (e) of the Control of Housing and Work (Residential and Employment Status) (Jersey) Regulations 2013.
In granting that entitlement the expectation is that those individuals will maintain an income of at least £625,000 per annum, thereby generating an annual income tax liability of at least £125,000.
So, for example, if 20 individuals came in 2015 their total tax contribution would be at least £2.5 million yearly for every full tax year they remain on Jersey.