{"id":56490,"date":"2021-04-13T07:21:53","date_gmt":"2021-04-13T06:21:53","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=56490"},"modified":"2021-04-13T11:00:48","modified_gmt":"2021-04-13T10:00:48","slug":"its-time-for-jersey-to-joint-the-international-tax-community","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2021\/04\/13\/its-time-for-jersey-to-joint-the-international-tax-community\/","title":{"rendered":"It\u00e2\u20ac\u2122s time for Jersey to join the international tax community"},"content":{"rendered":"

I was interested in this comment \u00a0in yesterday\u2019s yesterday\u2019s Jersey Evening Post<\/a>:<\/p>\n

JERSEY\u2019S zero-ten company taxation system is nearing its \u2018sell-by date\u2019 and needs to be reformed to improve the Island\u2019s international reputation, a former Senator has said.<\/p><\/blockquote>\n

The core of Ben Shenton\u2019s argument is:<\/p>\n

Mr Shenton said that at the time zero-ten was a \u2018good solution\u2019 to keep the finance industry competitive but that he felt attitudes on the international scene had moved on over the past decade, with governments increasingly hostile towards so-called \u2018tax havens\u2019.<\/p><\/blockquote>\n

I have to disagree with the suggestion that the so-called zero ten system, which means that the vast majority of Jersey companies pay no corporation tax, \u00a0has ever been good for anyone, unless helping tax \u00a0cheats is defined as good in the bizarre ethics of Jersey. However, as long term readers of this blog will know I was heavily engaged in opposing the proposed tax structure in Jersey for many years and successfully forced changes, albeit zero-ten was the outcome.<\/p>\n

I always predicted that the time would come when abuse from places like Jersey would have to end. It is interesting to note that the Biden plan for minimum global corporation taxes, calculated on a country-by-country basis, is already being noticed in places like Jersey. The writing is on the wall for them.<\/p>\n

Ben Shenton has called for debate on what comes next. That\u2019s easy. The answer is that it\u2019s corporation tax, at 21%. It\u2019s time for Jersey to join the international tax community, rather than doing its utmost to undermine it.<\/p>\n

The worry is about what abuse they will come up with to replace the one that they are currently offering. I fear that this is what the call for debate is really about, and I have no doubt that they will try to \u2018innovate\u2019 something else. This game is moving on. It may not be over. The purveyors of tax abuse will not give up easily.<\/p>\n","protected":false},"excerpt":{"rendered":"

I was interested in this comment \u00a0in yesterday\u2019s yesterday\u2019s Jersey Evening Post: JERSEY\u2019S zero-ten company taxation system is nearing its \u2018sell-by date\u2019 and needs to
 Read the full article…<\/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":[64,35,7,10,32,97],"tags":[],"class_list":["post-56490","post","type-post","status-publish","format-standard","hentry","category-corporation-tax","category-economics","category-jersey","category-tax-avoidance","category-tax-havens","category-tax-justice"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/56490","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=56490"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/56490\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=56490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=56490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=56490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}