Another year to fill the tax gap
Tuesday 20th July 2004, 12:00AM BST.
JERSEY has an extra year’s grace before the it has to fill a tax black hole.
Official figures released today show that the zero-ten per cent corporate tax rate will come into force in 2010 rather than in 2009.
It has emerged that the interpretation of the agreement with the EU over the timetable for tax reform has resulted in zero-ten not having to be in place as early as expected.
States Treasurer Ian Black said: ‘It’s a major bonus as it gives us another year’s breathing space.’
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