TaxPersonal TaxJersey considering income tax hike to 30%

Jersey considering income tax hike to 30%

The Crown Dependency of Jersey is mulling the rise from 20 per cent to 30 per cent to boost tax revenues

Jersey could raise its income tax rate to 30% in efforts to mitigate the
slump in the economy.

The offshore centre has suffered from the decline in the financial services
sector, which has led to the proposal of taxing those earning in excess of
£100,000 being considered,
according
to the FT.

However, the Crown Dependency admitted it could be in the unenviable position
of alienating the companies which employ the high earners it is targeting.

In a public consultation the Jersey government said, ” They would take with
them the jobs and business they generate in our economy, which would affect all
islanders.”

Further reading:

Jersey
taxes to rise next year

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