THE Jersey Taxation Society believes that a zero tax rate has the potential to attract new industries to the Island.
In a considered response to the Finance and Economics Committee’s proposals for change, the society welcomes the move to zero tax by 2009, with a higher ten per cent rate for financial services companies.
They suggest it could bring in new business and ease the dependence on the finance industry.But they advise the committee to be cautious in putting too great a tax burden on high earners, who they say make a greater contribution than those on low incomes.They also want the committee to give the public more information about the detail and say that issues such as tax on imports should not be left to come out in the media.
Article posted on 1st March, 2004 - 12.00am
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