Fresh Bid To Halve Retail Tax

Thursday, 22 November 2018 08:22

The Constable of St Helier is making another bid to halve the retail tax for large retailers.

Simon Crowcroft has lodged an amendment to the Budget.

The 20% retail tax for firms with profits of more than £500,000 was agreed in last year’s Budget.

Then Senator Philip Ozouf attempted to amend it to 10%, but was defeated by the narrowest of margins.

Now the town Constable is trying again.

He estimates the reduction will mean £3 million in lost revenue, but he says it will ‘mitigate the damage being done to the retail sector and the vitality of the town’.

“I believe that the States should agree to reduce the tax on the profits of large retailers to 10% and thus send out message that we value the retail sector and want it to prosper.”

His is one of six potential Budget changes.

Reform Jersey’s proposed to alter how we are taxed on our earnings, Deputy John Young is calling for a review of new environmental charges, and the Corporate Services Scrutiny Panel wants the stamp duty system simplified.

The Budget will be debated by the States on 4th December.

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