Finance (Jersey) Law 1974

Jersey Law 8/1974 FINANCE (JERSEY) LAW, 1974. ____________ A LAW to continue certain expiring fiscal laws, to prescribe the standard rate of income tax for the year nineteen hundred and seventy-four, and to amend the laws relating to income tax and corporation tax sanctioned by Order of Her Majesty in Council of the 21st day of MAY, 1974. ____________ (Registered on the 14 th day of June, 1974). ____________ STATES OF JERSEY. ____________ The 18th day of December, 1973. ____________ T HE STATES , subject to the sanction of Her Most Excellent Majesty in Council, have adopted the following Law: - PART I CONTINUATION OF CERTAIN EXPIRING FISCAL LAWS ARTICLE 1 The Laws mentioned in the Schedule to this Law, as amended and continued in force by any subsequent enactment, shall remain in force until the thirty-first day of December nineteen hundred and seventy-four. PART II STANDARD RATE OF INCOME TAX FOR 1974 ARTICLE 2 There shall be levied and charged in the Island for the year nineteen hundred and seventy-four in accordance with the provisions of the Income Tax (Jersey) Law, 1961, 1 as amended by any subsequent enactment, 2 including this Law, income tax at the standard rate of twenty pence in the pound. PART III AMENDMENT OF INCOME TAX LAW 3 ARTICLE 3 In paragraph (2) of Article 92 of the Income Tax (Jersey) Law, 1961, as amended (hereafter in this Part of this Law referred to as “the principal Law”) for the words “one thousand pounds” wherever those words occur there shall be substituted the words “one thousand three hundred pounds”. ARTICLE 4 In the proviso to paragraph (1) of Article 92A of the principal Law for the words “two hundred pounds” there shall be substituted the words “two hundred and fifty pounds”. ARTICLE 5 In paragraph (2) of Article 94 of the principal Law for the words “one hundred pounds” there shall be substituted the words “two hundred pounds”. ARTICLE 6 In paragraph (1) of Article 95 of the principal Law for the words “two hundred pounds” there shall be substituted the words “two hundred and fifty pounds”. ARTICLE 7 In paragraph (1) of Article 96 of the principal Law for the words “one hundred pounds” there shall be substituted the words “two hundred pounds”. ARTICLE 8 In paragraph (1) of Article 97 of the principal Law for the words “one hundred pounds” there shall be substituted the words “two hundred pounds”. ARTICLE 9 In Article 98 of the principal Law for the words “one hundred pounds” there shall be substituted the words “two hundred pounds”. ARTICLE 10 In paragraph (1) of Article 98A of the principal Law for the words “fifty pounds” there shall be substituted the words “one hundred pounds”. ARTICLE 11 In paragraph (1), in the proviso to paragraph (1) and in paragraph (3) of Article 99 of the principal Law for the words “one hundred pounds” wherever those words occur there shall be substituted the words “two hundred pounds”. ARTICLE 12 The provisions of this Part of this Law shall apply in relation to the year nineteen hundred and seventy-three and ensuing years. PART IV AMENDMENT OF CORPORATION TAX LAW ARTICLE 13 For Article 3 of the Corporation Tax (Jersey) Law, 1956, 4 as amended, 5 there shall be substituted the following Article – “ARTICLE 3 RATE OF TAX The amount of corporation tax leviable in any year shall be three hundred pounds and such tax shall be paid to the Comptroller of Income Tax on the day following the day on which a notice demanding the tax is issued by the Comptroller: Provided that in the first year in which a company is incorporated, the amount of corporation tax leviable shall be at the rate of one-twelfth part of three hundred pounds for each month or part thereof (including the month in which the company is incorporated) in that year.” ARTICLE 14 The provisions of this Part of this Law shall have effect for the year nineteen hundred and seventy four and ensuing years. PART V SHORT TITLE ARTICLE 15 This Law may be cited as the Finance (Jersey) Law, 1974. SCHEDULE (Article 1) FISCAL LAWS CONTINUED IN FORCE Import Duties (Jersey) Law, 1932. 6 “Loi (1937) sur la perception d’un impôt sur le tabac”. 7 “Loi (1937) sur la perception d’un impôt sur la bière”. 8 “Loi (1940) autorisant la perception d’un impôt sur certaines huiles et essences”. 9 Import Duty on Oils and Spirits (Administration) (Jersey) Law, 1940. 10 R.S. GRAY, Deputy Greffier of the States. 1 Tome 1961–1962, page 197. 2 Tome 1961–1962, page 445, Tome 1963–1965, pages 97, 115, 143, 178, 190, 423 and 454, Tome 1966–1967, pages 420 and 523, Tome 1968–1969, pages 38 and 219, Tome 1970–1972, pages 204, 209, 305 and 382 and page 34 of this volume. 3 Tome 1961–1962, pages 253, 254, 255 and 259, Tome 1966–1967, pages 420 and 422, Tome 1970–1972, page 204 and page 43 of this volume. 4 Tome 1954–1956, page 493. 5 Tome 1970–1972, page 4. 6 Tome VII, page 148. 7 Tome 1937–1938, page 95. 8 Tome 1937–1938, page 99. 9 Tome 1939–1945, page 253. 10 Tome 1939–1945, page 257.