AI-assisted research summary: This amendment law changes the Income Tax (Jersey) Law 1961, lets the Comptroller disclose information to the Employment and Social Security Department for approved purposes, and changes how certain lease-related payments are treated as rent.
Jersey Law 2/1998 INCOME TAX (AMENDMENT No. 18) (JERSEY) LAW 1998 ____________ A LAW to amend further the provisions of the Income Tax (Jersey) Law 1961, sanctioned by Order of Her Majesty in Council of the 17th day of DECEMBER 1997 ____________ (Registered on the 16th day of January 1998) ____________ STATES OF JERSEY ____________ The 23rd day of September 1997 ____________ T HE STATES subject to the sanction of Her Most Excellent Majesty in Council, have adopted the following Law – ARTICLE 1 After Article 13 of the Income Tax (Jersey) Law 1961, 1 as amended (hereinafter referred to as “the principal Law”) there shall be inserted the following Article – “ARTICLE 13A Power of Comptroller to disclose information for approved purposes Notwithstanding anything in this Law contained, the Comptroller may disclose information to the Employment and Social Security Department for any purpose approved by the Finance and Economics Committee.”. ARTICLE 2 In Article 50 of the principal Law, 2 the paragraph numbering “(1)” shall be deleted. ARTICLE 3 In Article 54 of the principal Law 2 – (a) in paragraph (1), for the words “(in addition to any actual rent)” there shall be substituted the words “(in addition to any actual rent and any other amount treated as rent under this Article)”; (b) for paragraph (2) there shall be substituted the following paragraphs – “(2) If, under any term subject to which a lease is granted, any sum is payable by a tenant as consideration for the surrender of the lease, the person entitled to the consideration shall be treated for the purposes of this Law as becoming entitled, when the consideration is payable, to an amount by way of rent (in addition to any actual rent and any other amount treated as rent under this Article) equal to the amount of the consideration reduced by one-fiftieth of that amount for each complete period of twelve months (other than the first) comprised in the duration of the lease calculated to the day of surrender: Provided that where the said consideration is payable by instalments , the amount of each instalment shall be treated as rent for the year in which it becomes payable. (2A) If any sum is payable by a tenant as consideration for the variation or waiver of any term of a lease, the person entitled to the consideration shall be treated for the purposes of this Law as becoming entitled, when the agreement for the variation or waiver is entered into, to an amount by way of rent (in addition to any actual rent and any other amount treated as rent under this Article) equal to the amount of the consideration reduced by one-fiftieth of that amount for each complete period of twelve months (other than the first) comprised in that part of the duration of the lease for which the variation or waiver has effect: Provided that where the said consideration is payable by instalments , the amount of each instalment shall be treated as rent for the year in which it becomes payable.”. ARTICLE 4 This Law may be cited as the Income Tax (Amendment No. 18) (Jersey) Law 1998. C.M. NEWCOMBE Deputy Greffier of the States. 1 Volume 1961–1962, page 202. 2 Volume 1961–1962, page 221, and Volume 1986–1987, page 193.