A public consultation has been announced on 27th March 2017 by the Treasury and Resources department to request comments on proposed new tax penalties. The Taxes Office is asking for public views on proposed new financial penalties. This would be an efficient and cost effective way to inspire individuals and businesses to file correct tax information and supplementary payment on time. Measures being considered include financial penalties for providing inaccurate information to the taxes office, charging interest on all tax debts, financial penalties for late tax returns and late payment, which depends on whether people failure to meet deadlines, new closing dates for filing tax returns electronically, penalties for not keeping appropriate records that support information given to the taxes office. In the most serious cases, criminal penalties will apply. Deadline for comments should be sent by 16th June 2017.
«
Poland: Important tax changes for 2017
PGA Highlights: March 2017
»
Related Posts
Jersey, Portugal in talks for income tax treaty
During a States Assembly meeting on 25 June 2024, Ian Gorst, Jersey's Minister of External Relations, affirmed Jersey's intention to engage in discussions regarding an income tax treaty with Portugal. The objective of the treaty will be to help
Read More
Ireland, Jersey reveal amendments to tax treaty protocols
Ireland and Jersey amended their tax treaty agreement on 23 November, 2023. The details of the amendments have recently been revealed. The protocol updates the preamble to include not only the intention to eliminate double taxation but also to
Read MoreOECD: Stage Two Peer Review Report on Jersey under BEPS Action 14
On 24 January 2022 the OECD’s Inclusive Framework published the stage 2 peer review report on Jersey’s compliance with the minimum standard under Action 14 of the project on base erosion and profit shifting (BEPS). Action 14 is concerned with
Read MoreUK: Double tax treaty with Jersey enters into force
The double tax treaty between the UK and Jersey entered into force on 19 December 2018. The treaty replaces the 1955 Arrangement between the UK and Jersey for the avoidance of double taxation which ceases to have effect from the dates on which the
Read MoreJersey: Ministry of Treasury presents 2018 Budget to the States Assembly
The Minister for Treasury and Resources, Alan Maclean, has presented the Finance Budget Law 2018 and it will be effective from May 4, 2018. The Government had published the Draft Budget 2018 on October 3, 2017. The measures generally applicable as
Read MoreDTA between Jersey and UAE came into force
On 15 February 2017, the Double Taxation Agreement (DTA) between Jersey and United Arab Emirates was entered into force and it will apply from 1 January 2018. The agreement contains Dividends rate 0%, Interest rate 0%, Royalties rate
Read More