The Taxation Sub Committee provides a forum for discussion on local tax matters of interest to members of the Society.
Meeting quarterly, the Sub Committee acts as a medium for consultation between the Society's members and the States Income Tax Office; providing input on current and draft legislation and best practice.
The Sub Committee acts as a medium for consultation between the Society's members and the States Income Tax Office
The Sub Committee has, in association with the Income Tax Office, established a joint "Statements of Practice" working party, to represent the Society, for the purposes of agreeing amendments to existing, and the drafting of new, Statements of Practice before they are passed to the States Treasury & Resources Department for approval.
In addition, the Sub Committee sometimes represents the Society in relation to its dealings with the States Social Security Department.
More recently, members of the Sub Committee have provided technical input on some of the wider issues impacting the islands including double tax treaties, BEPS, FATCA and the Common Reporting Standard.
The Sub Committee acts as a medium for consultation between the Society's members and the States Income Tax Office