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Corporation tax (FOI)

Corporation tax (FOI)

Produced by the Freedom of Information office
Authored by States of Jersey and published on 18 January 2016.

​Request

1) Can you please tell me how much tax is currently raised (latest figures available) per annum from corporation tax under the zero/ten rules.
2) Can you please tell me how much tax would be raised in the same year if there was a standard 5% tax across the board for corporations

Response

1. Figures published in April last year indicated the following tax receipts from companies for the year of assessment 2013 (collectible in 2014)

​Financial services companies (taxed at 10%)£​63.2m
​Utility companies (taxed at 20%) £2.7m
​Other companies   ​£17.1m
​Total£​83m

Note: The revenue from these companies will vary as further information is received and appeals are settled

2) With effect from the 2009 year of assessment companies that are liable to tax at 0% have not been required to provide information on their profits (except in certain circumstances). There is therefore insufficient information held regarding the profits of these companies to estimate a theoretical tax take.

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