 |
|
|
 |
|
| |
|
| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
| Offshore Trusts
Guide: OTG publishes news, features and newsletters on the use of
offshore trust structures. |
| TreatyPro: Online
tax treaty resource. |
|
|
| Channel Islands To Challenge UK Tax Decision |
by Amanda Banks, Tax-News.com, London
Thursday, December 22, 2011
The governments of Jersey and Guernsey have announced they intend to launch legal challenges
to the United Kingdom's decision to exclude the Channel Islands from value-added
tax exemptions on low-value goods, under Low Value Consignment Relief (LVCR).
The UK Treasury had announced that from April 1, 2012, the relief will no longer be offered to goods exported to the UK market from the
Channel Islands.
The LVCR scheme allows goods imported to the UK from non-EU territories to
be sold free from value-added tax (VAT) if they are priced at less than GBP15
since November 1, down from GBP18 previously. The scheme has encouraged many
businesses to set up warehouses in the Channel Islands from which they ship
items such as CDs and DVDs to the UK, and some argue that this has contributed
to the demise of some traditional 'high street' retailers.
However, under legislation announced by the UK Treasury on November 9, LVCR
will continue to apply with the new GBP15 threshold to commercial supplies from
all non-EU jurisdictions except the Channel Islands. Jersey and Guernsey have decided to challenge this decision on the grounds that the United Kingdom has infringed European law, although
the UK government had taken advice on the matter from the European Commission.
On behalf of the Jersey government, the island's Minister for Economic Development, Alan Maclean, stated:
"Following discussions between Ministers and with colleagues in Guernsey, and after very careful consideration of legal advice, we have decided to commence legal proceedings through the English courts to seek to clarify EU VAT Law in relation to proposed changes to Low Value Consignment Relief published as part of the draft UK Finance Bill 2012."
"Taking legal action in this matter is a decision that has been carefully weighed. Having received advice from legal specialists in this area informing us that we have a strong case, I am satisfied that we are right to take these initial steps in seeking further clarification of EU Directive 2009/132/EC. Together with the States of Guernsey, we have a duty to protect the interests of the islands and to that end we will be seeking clarity in the courts in order to help us make well-informed long-term decisions for the future benefit of islanders."
.
|
|
|
|
| THE LOWTAX LIBRARY
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
FREE TRIAL NEWS SUBSCRIPTION
Our 16 constantly updated
intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
|
|
 |
|
LAWANDTAX-NEWS.COM
