The Institute of Directors also suggest that the proposed Regulation of Undertakings charge for non-Jersey based firms is ‘fraught with difficulty’ and should be dropped and that the ‘enhanced disclosure’ rules for local firms should be changed.
Although welcoming the 60-page proposals which were issued last month as a basis on which to start detailed debate, the IoD say that more clarification is needed – including at the very least some simple examples of how businesses will be affected.
Jason Laity, chairman of the IoD’s tax sub-committee, said: ‘Even for those of us who deal with these things on a daily basis, this is a complex document.
We are quite disappointed that the consultation exercise has been a bit one-sided, because the general public don’t have the time to spend on it.
