Goods and Services
Tax (Amendment No. 3) (Jersey) Law 2011
A LAW to amend further the Goods and Services Tax (Jersey) Law 2007.
Adopted by the
States 10th December 2010
Sanctioned by Order of Her Majesty in
Council 12th October 2011
Registered by the
Royal Court 21st
October 2011
THE STATES, subject to the sanction of Her
Most Excellent Majesty in Council, have adopted the following Law –
1 Interpretation
In this Law “principal Law” means the Goods and Services
Tax (Jersey) Law 2007[1].
2 Article 6
amended
For Article 6(4) of the
principal Law, there shall be substituted the following paragraph –
“(4) Despite paragraph (1),
the disposition (whether or not in connection with its reorganization or
winding up) of a business as a going concern shall not be chargeable to GST if,
at the time when the disposition takes effect, the party whose business is
disposed of and the party to whom the business is disposed of are both
registered persons.”.
3 Article 17
amended
For Article 17(6) there shall
be substituted the following paragraph –
“(6) If a business carried on by a
taxable person is transferred to another person as a going concern and both the
transferor and the transferee are registered persons, then except to the extent
that the States by Regulations otherwise provide –
(a) if the transferor and
the transferee so agree, and so notify the Comptroller, any obligation, duty,
or liability, under a provision of this Law or the Regulations (other than any
liability for a penalty tax or surcharge or any criminal liability), of the
transferor shall become an obligation, duty, or liability, of the transferee;
and
(b) any right of either the
transferor or the transferee to repayment or credit in respect of GST may be
satisfied by repayment or credit to the other.”.
4 Article 74
amended
For Article 74(1) and (2) of
the principal Law there shall be substituted the following paragraphs –
“(1) If a person fails to pay an
amount of GST on time the person shall be liable to pay a surcharge of 2.5% of
the amount.
(2) If a person fails to
furnish on time a return that is required by or under this Law in respect of a
prescribed accounting period that applies to the person, the person shall be
liable to pay a surcharge of £50 on the amount of GST that the person is
required to pay in respect of that period.”.
5 Schedule 2
amended
In paragraph 8(2)(a) of Schedule 2
to the principal Law, for the amount “£10” there shall be
substituted the amount “£100”.
6 Citation
and commencement
(1) This
Law may be cited as the Goods and Services Tax (Amendment No. 3) (Jersey)
Law 2011.
(2) This
Law shall come into force on 1st January 2011.
m.n. de la haye
Greffier of the States