Procurement Summary
Country : Jersey
Summary : Pillar Two it System Implementation (Pillar 2)
Deadline : 17 Jan 2025
Other Information
Notice Type : Tender
TOT Ref.No.: 111891551
Document Ref. No. : DN756216
Financier : Self Financed
Purchaser Ownership : Public
Tender Value : Refer Document
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Pillar Two It System Implementation (Pillar 2)
On 22 October 2024, Jersey-s States Assembly unanimously adopted the following package of Pillar 2 legislation for multinational groups of enterprises in scope of Pillar 2, applicable for accounting periods beginning on or after 1 January 2025, namely:
1. IIR - The Multinational Taxation (Global Anti-Base Erosion - IIR Tax) (Jersey) Law 202-; and
2. MCIT - The Multinational Corporate Income Tax (Jersey) Law 202-.
The Government of Jersey has confirmed that it will not be implementing an Undertaxed Profits Rule at this time.
The Pillar 2 legislation will only apply to multinational groups of enterprises with more than €750 million global annual revenue. All other businesses that are below the €750 million threshold will see no impact and will remain under Jersey-s existing corporate income tax regime. Under the Multinational Corporate Income Tax, Jersey companies and Jersey branches of in-scope multinational groups will pay an effective rate of 15% on their Jersey profits from 2025. Furthermore, under the Income Inclusion Rule law, Ultimate Parent Entities and/or Intermediate Parent Entities, based in Jersey, will be subject to a top-up tax on their non-Jersey profits, in certain limited circumstances.
The Government of Jersey is committed to ensuring that taxpayers are provided with the highest standards of customer service in implementing the new Pillar 2 regime in Jersey. As such, Revenue Jerse...
Documents
Tender Notice