IT solution sought for new tax regime

The Government of Jersey is developing a new IT solution to help with the implementation of a 15% tax rate for the biggest businesses.

Politicians unanimously agreed in October 2024 to align the island with a new global tax regime called Pillar Two.

The decision means firms with global annual revenue of 750 million euros (£623m) or more will be charged 15% on their profits.

Officials said the government was "committed to ensuring that taxpayers are provided with the highest standards of customer service in implementing the new Pillar Two regime in Jersey".

The government said Revenue Jersey had started work on a new IT portal for Pillar Two taxpayers and an expression of interest process aimed to set out what was needed to deliver the system.

Most companies in Jersey pay no corporation tax, while all finance firms pay 10%.

It is estimated the Pillar Two legislation could generate an extra £50m a year in Jersey.

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