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Minister's response to the Corporate Services Scrutiny Panel's Recommendations to the Zero-Ten Proposals

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.

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A decision made (15.11.07) to respond to the Corporate Services Scrutiny Panel Recommendation on the Zero-Ten Proposals.

Decision Reference: MD-TR-2007-0119

Decision Summary Title:

Corporate Services Scrutiny Panel Recommendations on the Zero-Ten Proposals

Date of Decision Summary:

13th November 2007

Decision Summary Author:

 

Julian Morris -

Policy and Research Manager

Decision Summary:

Public or Exempt?

 

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title:

Corporate Services Scrutiny Panel Recommendations on the Zero-Ten Proposals

Date of Written Report:

10th November 2007

Written Report Author:

Malcolm Campbell-

Comptroller of Income Tax

Written Report :

Public or Exempt?

 

Public

Subject: 

 

Corporate Services Scrutiny Panel Recommendations on the Zero-Ten Proposals.

 

Decision(s): The Minister agreed that:

 

·         the two recommendations from the Corporate Affairs Scrutiny Panel should be accepted and that the Income Tax (Amendment No. 29) (Jersey) Law 200- be amended accordingly

 

  the attached “Response of the Treasury and Resources Minister to the Corporate Services Scrutiny Panel Report on the Zero-Ten Design Proposals” be sent to the Panel and also presented to the States prior to the States debate on these Zero-Ten proposals scheduled for 20th November 2007.

 

Reason(s) for Decision:

 

The Corporate Affairs Scrutiny Panel presented their fourth Report on the Zero-Ten proposals to the States on 7th November, 2007.  The Panel has recommended the following -

 

-          removing the exemption from deemed distribution for quoted companies

-          to reduce the proposed de minimis limit from 5% to 2%.

 

For the reasons outlined in the accompanying Report the Minister is recommended to accept these recommendations.

 

Resource Implications: 

 

There are no financial or manpower implications

Action required: 

 

Treasury and Resources Business Manager to:

 

  advise the Law Draftsman of these decisions

  to send the attached Response from the Treasury and Resources Minister to the Chairman of the Corporate Affairs Scrutiny Panel prior to 20th November 2007

  to make the necessary arrangements to present the attached “Response” to the States prior to 20th November 2007.

 

Signature:

 

 

 

Position: Senator Terry Le Sueur, Treasury and Resources Minister

 

 

 

Date Signed: 16th November 2007

Date of Decision: 15th November 2007

 

 

 

 

 

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