David Jetuah, Accountancy Age, Monday 12 July 2010 at 16:09:00

The Crown Dependency of Jersey is mulling the rise from 20 per cent to 30 percent to boost tax revenues

Jersey could raise its income tax rate to 30% in efforts to mitigate theslump in the economy.

The offshore centre has suffered from the decline in the financial servicessector, which has led to the proposal of taxing those earning in excess of£100,000 being considered,accordingto the FT.

However, the Crown Dependency admitted it could be in the unenviable positionof alienating the companies which employ the high earners it is targeting.

In a public consultation the Jersey government said, " They would take withthem the jobs and business they generate in our economy, which would affect allislanders."

Further reading:

Jerseytaxes to rise next year