The Government of Jersey is taking further steps to strengthen the Island’s competitiveness as an international finance centre by developing a more responsive and business friendly service for the Financial and Related Professional Services sector in Jersey.
Financial services businesses and their professional advisers are invited to help shape the improvements in Revenue Jersey’s services through an online survey and independently facilitated workshops.
The initiative forms part of the Government’s Time to Win programme, which is focused on improving Jersey’s international competitiveness, removing unnecessary barriers to business and supporting sustainable economic growth.
The Government intends to develop a dedicated FRPS support service within Revenue Jersey, drawing on existing expertise and resources wherever possible, to enable businesses and professional advisers to interact with Revenue Jersey quickly, efficiently and with greater certainty.
The precise arrangements will be informed by direct engagement with businesses and professional advisers to ensure that the service meets their needs and delivers value for money.
The improvements being considered include:
- Faster, more responsive services including improved response times and simpler processes
- Greater certainty and specialist expertise with timely, consistent guidance and access to relevant technical knowledge
- Better communication and engagement between Revenue Jersey, businesses and professional advisers
- International competitiveness ensuring Revenue Jersey’s services support Jersey’s position as a leading international financial centre
Jersey’s financial and related professional services sector plays a fundamental role in the Island’s economy, supporting approximately two in every five jobs, generating more than half of economic output and contributing around £6 in every £10 of tax revenue.
The Government recognises that efficient, predictable and proportionate tax administration is an important component of Jersey’s international competitiveness.
The Minister for Treasury and Resources, Senator Alan Maclean (pictured), said: “Jersey’s financial and related professional services sector is fundamental to our economic success. It supports thousands of jobs, attracts international investment and generates substantial tax revenues that help fund our public services.
“If we want Jersey to remain competitive and attract new business, we must ensure that Government services are efficient, responsive and understand the needs of the businesses they serve.
“Revenue Jersey has an important role to play. Businesses need timely decisions, clear guidance, certainty and straightforward access to specialist expertise.
“Through our Time to Win programme, we are committed to removing unnecessary barriers, reducing delays and making Jersey an easier and more attractive place to do business. Our intention is to develop a dedicated FRPS support service within Revenue Jersey that delivers faster, more efficient and more business friendly engagement with this strategically important sector.
“We will work directly with businesses and professional advisers to ensure the arrangements are practical, effective and deliver value for money. This is about improving the service the Government provides, not creating unnecessary jobs and bureaucracy.
“A strong and growing financial services industry is essential to Jersey’s prosperity and to our ability to fund high-quality public services.”
