18 August 2023| CATEGORIES: e-Commerce, GST, Jersey, New legislation| TAGS: e-commerce, GST, import, Jersey
With effect from 1 July 2023, Jersey has introduced Goods and Services Tax (GST) on sales of e-commerce goods made to consumers in Jersey by non-resident businesses. There is a registration threshold of £300,000. When purchasing goods from overseas retailers who become registered for GST, consumers will pay 5% GST to the supplier (vendor) at the point of sale.
11 August 2023| CATEGORIES: input tax recovery, sale of shares, VAT case| TAGS: Holding company, input tax, sale of shares, VAT refund
The Upper Tribunal (UT) has released its judgment in the Hotel La Tour Limited case. The case concerned the recovery of VAT on advisers’ costs relating to the sale of shares in a subsidiary company.
The UT rejected HMRC’s appeal against the previous decision of the First-tier Tribunal (FTT) which had found that the VAT on the advisers’ costs could be recovered as there was a link to future taxable supplies.
9 August 2023| CATEGORIES: Electronic documents, International trade, New legislation| TAGS: Containers, digitalisation, International trade
The Electronic Trade Documents Act 2023 received Royal Assent on 20 July 2023, and will come into force on 20 September 2023. The Act applies to trade documents such as bills of exchange, bills of lading, and ships’ delivery orders, and amends the law so that electronic trade documents are granted the same legal status as physical trade documents, which was not previously the case.
