Jersey is to introduce a tax amnesty period next year, before bringing in measures to clamp down on tax avoiders on the island, according to the States of Jersey's budget statement for 2017 released this week.
The Treasury and Resources Minister, Senator Alan Maclean, said a “tax disclosure opportunity” would be introduced in 2017. “This will be a one-off opportunity for people to get their tax affairs in order before new data sources, new technology and new legislation make the detection of tax error and evasion easier,” he said.
“The disclosure opportunity will run from April to December. After that, new sanctions, penalties and interest charges – which I will ask the Assembly to adopt in Budgets 2018 and 2019 - will begin to apply.”
The Jersey government sees tackling financial crime as a priority. Maclean added: “We are introducing powers to enable the Taxes Office and States Police to collaborate in tackling financial crime.”
To view the budget statement click here