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CGi member firms against GST

CGi member firms against GST

Wednesday 29 September 2021

CGi member firms against GST

The Confederation of Guernsey Industry has released the interim results of its survey following the States’ recent announcements of options under consideration for raising revenues.

The responses received indicate the industry body’s members prefer an increase in income tax over the introduction of a Goods and Sales Tax (GST), which was overwhelmingly opposed by 80% of firms surveyed.

The questionnaire asked for views on three options – a rise in tax on income, a new GST of 8% with a GSSA of 8% and raising personal tax allowance and the introduction of a 5% GST and social security increases. 53% were either strongly supportive or somewhat supportive of an increase in income tax, 86% opposed the second option and 80% rejected the third.

The CGis chairman, Dave Newman said: "Our members were unequivocal in opposing what is effectively a new tax that would need to be set up, administered and collected, which in itself would need a whole new States department to run. No-one wants to see any rise in their personal costs but income tax is by far and away the most efficient and fair system for collecting additional revenues."

Mr Newman added: "We accept that the States is in a difficult position so would be happy to contribute to the consultation. More information is required in order to make the right decisions and this should also include cost saving measures introduced by the States itself which seems to have disappeared from the news agenda over the past couple of weeks."

The CGi’s survey can be accessed HERE.

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