Arrangement

A LAW to set the rate of income tax for 2015 and to amend the Income Tax (Jersey) Law 1961, the Customs and Excise (Jersey) Law 1999, the Goods and Services Tax (Jersey) Law 2007, the Stamp Duties and Fees (Jersey) Law 1998 and the Taxation (Land Transactions) (Jersey) Law 2009

THE STATES, subject to the sanction of Her Most Excellent Majesty in Council, have adopted the following Law –

“(d)    who returns to Jersey on or after 1st January 2015 after having been non-resident in Jersey for at least one year of assessment immediately prior to so returning, and thereafter in Jersey commences employment or becomes a sub-contractor.”.

“(5)    Interest payable in relation to a dwelling-house is eligible for a marginal income deduction under paragraph (2) up to the following limits –

(a)     that portion of the total amount of the loans to which that interest relates that does not exceed £300,000;

(b)     for the year of assessment 2015 and ensuing years, that portion of the total interest payable that does not exceed £15,000.”.

“(3)    For the year of assessment 2015 and ensuing years, a credit is allowable against the income tax payable by virtue of the application of paragraphs (1) and (2).

(4)     The amount of the credit is the lower of –

Where –

A = the income tax payable after the application of paragraphs (1) and (2)

B = the person’s total income

C = the income liable to foreign tax,

or

(b)     the amount of foreign tax paid.

(5)     In calculating the amount of credit under paragraph (4) Article 112 has effect subject to the following modifications –

(a)     as if the reference to credit were a reference to the credit calculated under paragraph (4) of this Article;

(b)     as if the reference in paragraph (2) to income tax chargeable were a reference to income tax payable;

(c)     as if paragraph (3) were omitted;

(d)     as if the reference in paragraph (5) to paragraph (3) were a reference to paragraph (4) of this Article; and

(e)     as if for the words “the rate mentioned in paragraph (3) of this Article” in paragraph (7) there were substituted the words “the amount of credit calculated under Article 92C(4).”.

(6)     In paragraph (4) ‘foreign tax’ and ‘income tax’ have the same meaning as in Article 112(1).”.

“(4)    In this Article ‘retail outlet’ means a facility from which hydrocarbon oil is sold directly to the public solely for use as fuel in motor vehicles or boats.”.

“1      Spirits

There shall be charged –

(a)     on all spirits, produced by a small independent distiller of spirits, which are imported into or produced or manufactured in Jersey, excise duty at the rate of £16.23 per litre of alcohol; and

(b)     on all other spirits imported into or produced or manufactured in Jersey, excise duty at the rate of £32.43 per litre of alcohol.

2        Wines

There shall be charged, on all wines imported into or produced or manufactured in Jersey, excise duty at the following rates –

3        Beer

There shall be charged –

(a)     on all beer, produced by a small independent brewer, which is imported into or produced or manufactured in Jersey, excise duty at the rate of –

(i)      £14.92 per hectolitre of beer exceeding 1.2% volume but not exceeding 2.8% volume,

(ii)      £29.83 per hectolitre of beer exceeding 2.8% volume but not exceeding 4.9% volume, and

(iii)     £50.61 per hectolitre of beer exceeding 4.9% volume; and

(b)     on all other beer imported into or produced or manufactured in Jersey, excise duty at the rate of –

(i)      £29.83 per hectolitre of beer exceeding 1.2% volume but not exceeding 2.8% volume,

(ii)      £59.67 per hectolitre of beer exceeding 2.8% volume but not exceeding 4.9% volume, and

(iii)     £101.20 per hectolitre of beer exceeding 4.9% volume.

4        Cider

There shall be charged –

(a)     on all cider, produced by a small independent cider-maker, which is imported into or produced or manufactured in Jersey, excise duty at the rate of –

(i)      £14.92 per hectolitre of cider exceeding 1.2% volume but not exceeding 2.8% volume,

(ii)      £29.83 per hectolitre of cider exceeding 2.8% volume but not exceeding 4.9% volume, and

(iii)     £50.61 per hectolitre of cider exceeding 4.9% volume; and

(b)     on all other cider, imported into or produced or manufactured in Jersey, excise duty at the rate of –

(i)      £29.83 per hectolitre of cider exceeding 1.2% volume but not exceeding 2.8% volume,

(ii)      £59.67 per hectolitre of cider exceeding 2.8% volume but not exceeding 4.9% volume, and

(iii)     £101.20 per hectolitre of cider exceeding 4.9% volume.

5        Other alcoholic beverages

There shall be charged, on all alcoholic beverages imported into or produced or manufactured in Jersey (other than wines, beer or cider) exceeding 1.2% volume but not exceeding 5.5% volume, excise duty at the rate of £32.43 per litre of alcohol.”.

“3B   Lower value residential property: security interests

(1)     This paragraph applies to a transaction described in Article 3(1)(c) that relates to –

(a)     a transaction described in Article 3(1)(a) in respect of land on which a dwelling is, or is to be, constructed for occupation by the occupier; and

(b)     the gross value of the property or, where the dwelling has not been constructed, the notional gross value of the property once the dwelling has been constructed, calculated on the basis of market values obtaining at the time of the sale, is £400,000 or less; and

(c)     both transactions relate to the same shares and take place on the same day.

(2)     The rate of LTT applicable to a transaction to which this paragraph applies is £80 plus –

(a)     where the amount secured by the security agreement does not exceed £300,000, nil;

(b)     where the amount secured by the security agreement exceeds £300,000 but does not exceed £400,000, nil in respect of the first £300,000 plus 25p for each £100 or part of £100 in excess thereof, subject to a minimum of £25.”.

“(ii)    exceeds £300,000 but does not exceed £400,000”;

“(ii)    exceeds £300,000 but does not exceed £400,000”;

“(c)    where the value of the transaction exceeds £400,000 but does not exceed £450,000, the amount of LTT that would have been payable if paragraph (2) had applied reduced by the following formula:

5,000 – ((V- 400,000) x 10%)

where V is the value of the transaction.”.

“(AA)        where the testator devises immovable property, whether as sole devisee or jointly with others –

(a)     to a corporation, association or trust, or a non-profit organization, described in Article 115(a), (aa) or (ab) of the Income Tax (Jersey) Law 1961; and

(b)     that body produces to the Greffier a letter from the Comptroller of Taxes confirming that the body qualifies for exemption under one of those provisions,

the only fee payable by the body shall be the fee payable under paragraph (2)(a) or, as the case may be, (2)(b) (but any other devisees shall be liable to pay the fees required by this item based on the net value of that part of the property not devised to the body);”.

“83    Refund of excess amounts accounted for as output tax

(1)     If a person has accounted for an amount as output tax to the Comptroller that exceeds the amount actually due to the Comptroller, the Comptroller shall, on a claim by the person made within a period of 5 years from the date on which the return for the tax period became due, be liable to refund the excess amount to the person.

(2)     Despite any other law, the Comptroller shall not be liable to refund the excess amount except as required under this Article.

(3)     The Comptroller shall not in any case be liable to refund the amount to the extent that the refund would unjustly enrich the claimant.”.