The standard corporate tax rate is 20% (0% until 31 December 2021).

However, a number of other rates apply as follows:

Banks and financial service companies are subject to tax at the rate of 10%. Effective 1 January 2018, financial services companies include companies registered under the Financial Services (Jersey) Law 1998 to carry out certain specific activities, the Banking Business (Jersey) Law, the Collective Investment Funds (Jersey) Law, the Insurance Business (Jersey) Law (Category A or Category B permit), and companies under credit facility business;
Service utility companies and companies engaged in oil importation and supply are subject to tax at the rate of 20%;
Rental income from Jersey property, income from property development profits, and income from exploiting Jersey land, is subject to tax at the rate of 20%. Effective 1 January 2024, profits from the disposal of land on a commercial basis if it forms part of a property trade are also charged to tax at the rate of 20%;
Effective 1 January 2018, large corporate retailers that are residents or have a permanent establishment in Jersey having a retail turnover of at least GBP 2 million and at least 60% of total turnover from retail sales activity in Jersey are subject to the following tax rates based on profits or gains:

up to GBP 500,000 – 0%;
between GBP 500,000 and 750,000 – 0% to 20%, calculated as (profits or gains x 20%) – ((GBP 750,000 – profits or gains) x 40%); and
exceeding GBP 750,000 – 20%; and

Effective 1 January 2022, companies in the cannabis industry are subject to tax at the rate of 20%

Pillar 2 Global Minimum Tax

On 20 December 2021, the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) released model rules called Global Anti-Base Erosion (GloBE). These rules basically provide for a co-ordinated system of taxation that is intended to reform international tax rules and ensure that large multinational enterprise (MNE) groups pay a minimum level of tax on the income arising in each of the jurisdictions where they operate.

On 22 October 2024, the Government of Jersey announced the adoption of the legislation to implement the Pillar Two regulations in the domestic law, including an Income Inclusion Rule (IIR) and a Multinational Corporate Income Tax (MCIT, intended to operate as a QDMTT) in Jersey beginning from income years commencing on or after 1 January 2025. Jersey has confirmed that it is not implementing the Undertaxed Profits Rule (UTPR).

The Top-up taxes will apply to resident companies in Jersey and all multinational groups (MNE Groups including Jersey-parented MNE Groups and foreign-parented MNE Groups) that have consolidated accounting revenue of EUR 750 million or more, such that its effective tax rate in Jersey is at least 15%.

The IIR will apply to a Jersey entity that is the ultimate parent entity (UPE), intermediate parent entity, or partially-owned parent entity that is a constituent entity of in-scope groups that holds (directly or indirectly), an ownership interest in a low-taxed foreign constituent entity under the global minimum tax regulations at any time during the fiscal year.

The MCIT applies to in-scope Jersey companies and branches of multinational groups that have production and business activities in Jersey during the fiscal year such that their effective tax rate in Jersey is at least 15% of their Jersey profit. A reporting entity may opt for an exemption from the MCIT if the net GloBE income for the fiscal year is less than GBP 100,000. This will enable Jersey to retain taxing rights over undertaxed Jersey profits. Jersey's MCIT applies the OECD Model Rules and takes account of certain instances of double taxation.

Based on the OECD Model Rules it is expected that:

The rules will apply if the turnover exceeds the threshold in at least two of the preceding four years; and
The EUR 750 million threshold will be determined for any year based on the average exchange rate in December in the immediately preceding year.

Exclusions

The following entities are excluded from the scope of application of the GMT:

Government entities, international organizations, non-profit organizations, and pension funds;
Investment funds and real estate investment vehicles but only when they are the UPE of an MNE Group; and
Entities directly or indirectly owned by the above-mentioned entities.

Filing of Tax Returns and Tax Payment

In-scope taxpayers are required to submit information returns, supplementary corporate income tax returns, explanations of differences arising from the adaptation of different accounting standards, and pay Top-up taxes as follows:

For MCIT - Within 12 months from the end of the fiscal year; and
For IIR - Within 15 months (18 months for the first year) from the end of the fiscal year.

Dividends

Dividends received are considered ordinary income and subject to tax at the standard tax rate. Dividends paid by Jersey resident companies are deemed to be paid net of the applicable tax (10% or 20%).

Where dividends are received by financial services companies (subject to tax at 10%) from another Jersey resident on which tax has been/ deemed to be deducted (i.e., dividends have been paid out of profits subject to 10% or 20% tax rates), then the financial services company is entitled to a tax credit. The tax credit available is limited to the lower of the tax deducted from the dividend or the gross dividend at the rate of 10%.

Furthermore, effective 20 October 2015, the tax credit is not repaid/ available in respect of any dividends received by companies subject to a 0% corporate tax rate.

8.1.2. Other Taxes

The following table provides an overview of other taxes that may be imposed on a company doing business in the country.

Tax Type	Rate(s)	Notes
Capital Duty	N/A	N/A
Payroll Tax	N/A	There is no payroll tax separately due by companies on their total payroll expenditure. Employers are required to withhold income tax and social security premiums on behalf of their employees.
Social Security Employer Contribution	6.5%, 2.5%	Employer contributions are equal to 6.5% of monthly gross remuneration up to GBP 5,450 (effective 1 January 2024), and 2.5% of any amount exceeding GBP 5,450 up to GBP 24,850 (effective 1 January 2024).
Social Security Employee Contribution	6%	Employee contributions are equal to 6% of monthly gross remuneration up to GBP 5,450 effective 1 January 2024.
Property Tax	Varies	A real estate tax, based on the annual rental value of land and buildings is imposed on both the owner and occupier at varying rates depending on the parish where the property is located.
Transfer Tax	0.5% to 11%	A land transaction tax applies on the transfer of shares in companies the ownership of which confers a right to occupy the company's immovable property in Jersey. The tax payable is equal to the amount of stamp duty that would have applied if the real estate were held directly rather than through a company. Effective 1 January 2024, the maximum property value for a first-time buyer is increased to GBP 700,000 (increased from GBP 500,000).
Stamp Duty	Varies	Stamp duty applies at varying rates on the purchase or transfer of Jersey real estate. Mortgages secured by a charge over Jersey real estate are subject to stamp duty at rates of up to 0.5% of the amount borrowed. Effective 1 January 2024, the maximum property value for a first-time buyer is increased to GBP 700,000 (increased from GBP 500,000). Also, a 0.5 percentage-point increase applies to each tax band above JEP 2 million.
Excise Taxes	Varies	Excise taxes are imposed on alcoholic beverages, tobacco products, spirits and spirits-based drinks, hydrocarbon oil and fuel. Excise tax rates are available here.
Customs Duty	Varies	Customs duties are imposed on certain goods imported from outside the European Union. Custom duty rates are available here.

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