{"id":5398,"date":"2009-11-24T00:05:45","date_gmt":"2009-11-23T22:05:45","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=5398"},"modified":"2009-11-24T00:05:45","modified_gmt":"2009-11-23T22:05:45","slug":"jersey-gives-tax-break-for-super-yachts","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2009\/11\/24\/jersey-gives-tax-break-for-super-yachts\/","title":{"rendered":"Jersey gives tax break for super yachts"},"content":{"rendered":"<p><a href=\"http:\/\/www.thisisjersey.com\/2009\/11\/23\/gst-changes-to-lure-super-yachts\/\">GST changes to lure super yachts \u00ac\u00aa Business \u00ac\u00aa This Is Jersey<\/a>.<\/p>\n<p>Jersey is going bust.<\/p>\n<p>Tax on ordinary people has to rise.<\/p>\n<p>It's corporate tax laws do not comply with international standards<\/p>\n<p>But don't fear! The latest news is:<\/p>\n<blockquote><p>CHANGES have been made to GST (<em>VAT to the rest of the world - ed<\/em>)  rules to encourage more super yachts to berth in the Island.<\/p>\n<p>It has been agreed that yachts owned by non-residents should be allowed to stay in the Island for an extra six months without incurring the three per cent tax.<\/p>\n<p>Until now, yachts owned by non-residents could stay in Jersey ports for up to a year without GST being charged. That time has been extended to 18 months. The new rules also allow the 18-month time period to restart if the yacht leaves Jersey waters for a period of longer than 14 days before returning.<\/p>\n<p>The rule change, which takes immediate effect, should make it easier to attract more super-yachts such as the giant \u00a311 million Tickled Pink.<\/p>\n<p>Tax expert John Shenton said that it was estimated that about ten per cent of the value of a yacht was spent each year in keeping it in a port, so a \u00a310 million yacht would attract spending of about \u00a31 million annually.<\/p><\/blockquote>\n<p>So there we have it: pure regulatory abuse to suit the needs of the rich.<\/p>\n<p>And Jersey denies it has been captured for abuse as a tax haven.<\/p>\n<p>That is exactly what it is.<\/p>\n<p>And they're Tickled Pink about it.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GST changes to lure super yachts \u00ac\u00aa Business \u00ac\u00aa This Is Jersey. Jersey is going bust. Tax on ordinary people has to rise. It&#8217;s corporate<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2009\/11\/24\/jersey-gives-tax-break-for-super-yachts\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,32],"tags":[],"class_list":["post-5398","post","type-post","status-publish","format-standard","hentry","category-jersey","category-tax-havens"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/5398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=5398"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/5398\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=5398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=5398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=5398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}