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Taxation (Partnerships - Economic Substance) (Jersey) Law 202-

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

An accurate record of “Ministerial Decisions” is vital to effective governance, including:

  • demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision

  • providing a record of decisions and actions that will be available for examination by States Members, and Panels and Committees of the States Assembly; the public, organisations, and the media; and as a historical record and point of reference for the conduct of public affairs

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made on 14 May

MINISTERIAL DECISION REFERENCE:    MD-ER-2021-0035

DECISION SUMMARY TITLE:  Draft Taxation (Partnerships – Economic Substance) (Jersey) Law 202- Decision to lodge “au Greffe”

DECISION SUMMARY AUTHOR:

Private Secretary

IS THE DECISION SUMMARY PUBLIC OR EXEMPT?  

Public

REPORT TITLE:  Draft Taxation (Partnerships – Economic Substance) (Jersey) Law 202-

REPORT AUTHOR OR NAME OF PERSON GIVING REPORT: 

Deputy Director Tax Policy

IS THE REPORT PUBLIC OR EXEMPT

Public

DECISION AND REASON FOR THE DECISION:

The Minister for External Relations and Financial Services approved for lodging au Greffe the draft Taxation (Partnerships- Economic Substance) (Jersey) Law 202-.

 

The draft Law, if approved, would  meet EU Code of Conduct Group requirements for legislation to be in place by 30 June 2021 that would bring partnerships within the scope of the economic substance regime. This would ensure that Jersey continues to fulfil the political commitment given to the EU Code Group in July 2018.

 

RESOURCE IMPLICATIONS: 

Additional Revenue Jersey software developments costs of £100,000 are estimated to be required as a result of this decision. There will be additional administration and compliance activities required by Revenue Jersey from this extension of economic substance.  However, it is expected that these activities can be carried out from existing resources.

 

ACTION REQUIRED: 

The Greffier of the States is requested to arrange for the draft Law to be lodged au Greffe for debate by the States at the earliest opportunity.

 

SIGNATURE:

 

 

SENATOR IAN GORST

POSITION:

 

 

MINISTER FOR EXTERNAL RELATIONS AND FINANCIAL SERVICES

 

 

DATE SIGNED:     

EFFECTIVE DATE OF THE DECISION (if different)

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