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Goods and Services Tax (Jersey) Regulations and Appointed Day Act.

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A decision made (10/09/07) regarding: Goods and Services Tax (Jersey) Regulations and Appointed Day Act.

Decision Reference: MD-TR-2007-0092

Decision Summary Title :

Goods and Services Tax (Jersey) Regulations and Appointed Day Act

Date of Decision Summary:

4th September 2007

Decision Summary Author:

Julian Morris – Business Manager

Decision Summary:

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

n/a

Written Report

Title :

Goods and Services Tax (Jersey) Regulations and Appointed Day Act

Date of Written Report:

4th September 2007

Written Report Author:

Julian Morris – Business Manager

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Subject: Goods and Services Tax (Jersey) Regulations and Appointed Day Act

Decision(s): The Minister agreed to lodge au Greffe on 11th September 2007 the Goods and Services Tax (Jersey) Regulations 200- and the Appointed Day Act.

Reason(s) for Decision: These Regulations (attached) provide a number of details necessary for the Goods and Services Tax (Jersey) Law 2007 to work, and amend that Law in certain areas (for example the registration of taxable persons, exemptions and the zero-rating of supplies).

The Appointed Day Act (also attached) appoints 1st January 2008 as the day on which the provisions of the Goods and Services Tax (Jersey) Law 2007 dealing with registration, and other procedural matters, are to come into force.

The Act appoints 1st May 2008 for the substantive charge to GST, and the remaining provisions of that Law, to come into force, including Part 2 (Imposition of GST).

Resource Implications: It is estimated that 10 staff will need to be employed in order to administer the tax at an approximate operating cost of £1 million per annum. However, a 3% GST should generate approximately £45 million per annum in taxation revenue net of operational costs.

Action required: Business Manager to instruct the Greffe to make arrangements for the lodging of the Goods and Services Tax (Jersey) Regulations and Appointed Day Act for Tuesday 11th September 2007.

Signature:

Position: Senator Terry Le Sueur, Treasury and Resources Minister

Date Signed: 10th September 2007

Date of Decision (If different from Date Signed):

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