Contents

THE STATES make these Regulations under Article 2 of the Taxation (Implementation) (Jersey) Law 2004  –

“ “business document” means –

(a)     a document that relates to the carrying on of a business, trade, profession or vocation by a person and that forms part of a record under an enactment; or

(b)     in the case of a financial institution that does not carry on a business, trade, profession or vocation, a document that an authorized person believes to be relevant, or potentially relevant, to determining the compliance of the financial institution with these Regulations;

“business premises” means –

(a)     premises used in connection with the carrying on of a business, trade, profession or vocation; or

(b)     in the case of a financial institution that does not carry on a business, trade, profession or vocation, the address in Jersey –

(i)      of the financial institution, or

(ii)      if the financial institution is a trust, of a trustee;”.

“18A Requirements and penalties for trusts and partnerships

(1)     If a requirement or penalty under these Regulations applies to a trust or partnership, the requirement or penalty applies to –

(a)     in the case of a trust, each trustee, jointly and severally;

(b)     in the case of a partnership, the partner identified as the responsible partner under Article 20E of the Income Tax (Jersey) Law 1961.

(2)     These Regulations do not prevent a penalty imposed on a trust or partnership from being recovered from the assets of the trust or partnership.”.

“19    Anti-avoidance

(1)     This Regulation applies if a person enters into an arrangement and the main purpose, or one of the main purposes, of the person entering into the arrangement is to avoid any requirement of these Regulations.

(2)     If this Regulation applies –

(a)     for the purposes of these Regulations the arrangement is taken not to have been entered into; and

(b)     these Regulations have effect as if the arrangement had not been entered into.”.

“ “business document” means –

(a)     a document that relates to the carrying on of a business, trade, profession or vocation by a person and that forms part of a record under an enactment; or

(b)     in the case of a financial institution that does not carry on a business, trade, profession or vocation, a document that an authorized person believes to be relevant, or potentially relevant, to determining the compliance of the financial institution with these Regulations;

“business premises” means –

(a)     premises used in connection with the carrying on of a business, trade, profession or vocation; or

(b)     in the case of a financial institution that does not carry on a business, trade, profession or vocation, the address in Jersey –

(i)      of the financial institution, or

(ii)      if the financial institution is a trust, of a trustee;”.

“8JA  Requirements and penalties for trusts and partnerships

(1)     If a requirement or penalty under these Regulations applies to a trust or partnership, the requirement or penalty applies to –

(a)     in the case of a trust, each trustee, jointly and severally;

(b)     in the case of a partnership, the partner identified as the responsible partner under Article 20E of the Income Tax (Jersey) Law 1961.

(2)     These Regulations do not prevent a penalty imposed on a trust or partnership from being recovered from the assets of the trust or partnership.”.