- Guernsey’s States is seeking companies to assist in administering a 5% goods and services tax (GST) expected in 2027. The tax was approved last year, along with a lower income tax rate for earnings under £30,000 and social security reforms. A decision on including food in the GST is anticipated early next year. Companies have until Monday to respond to the tender. The administration cost is estimated at £800,000 annually, with responsibilities divided between the revenue service and the Border Agency. Deputy Charles Parkinson stated that GST work will continue despite an ongoing tax system review, which won’t address capital gains or personal income tax changes.
Source: bbc.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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