All companies resident in Jersey are being asked to provide more information on the 2017 return about their activities.
The three key points are:
- The “individual” company tax return will include a new section asking about company activity by reference (only) to five or six categories. We have been advised that definitions of each category will follow very shortly. It is possible these definitions will be refined – in consultation with stakeholders – over the coming year for future years.
- The global return for foreign incorporated companies (GRFIC) will have a new column to capture the same information.
- Any company making use of the global return for Jersey incorporated companies (GRJIC) will be asked to provide this extra information on a separate schedule, as the Taxes Office is not able to adapt the GRJIC return itself. The schedule will be required by 31 December 2018 (the same filing date as the return).
If you have any further questions please contact our Tax Consultant, Hannah Roynon-Jones.