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Jersey Approves 2017 Budget Measures and Regulations for CbC Reporting

20 December 2016

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Approved Changes

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Jersey

On 14 December 2016, the Jersey States Assembly approved the budget measures for 2017, the regulations for Country-by-Country (CbC) reporting, and the ratification of the Multilateral Competent Authority Agreement on the Exchange of CbC Reports. 2017 Budget Measures The main tax-related budget measures include: The introduction of unilateral double taxation relief on the basis of domestic legislation for companies subject to tax at 10% or 20% from 2017 (currently relief generally only granted under a tax treaty); Amendments to the Income Tax Law in order to give the Comptroller the power to obtain details of the profits chargeable to tax...