Jersey to close tax loophole on property transactions

Mark Battersby
clock • 1 min read

Jersey's current arrangement where the purchase of a property through acquisition of a property owning company's share capital is exempt from stamp duty, is about to change.  The States of Jersey shortly intends to bring forward legislation to impose a tax equivalent to stamp duty on such a sale, effectively closing the "loophole", international law firm Ogier said in a briefing note. Guernsey introduced such a measure back in November 2017 in a law which reflects much of the same language as that now proposed in Jersey, the law firm said.  The Law Officers' Department has confirme...

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