This would mean that it would be 2011 rather than 2009 before the full effects of the ’20 per cent means 20 per cent’ tax proposals would be felt by those on higher incomes.
The decision to allow the extra time for the phasing out of allowances was announced today as part of the final proposed tax package lodged au Greffe by the Finance and Economics Committee.
It is due to be debated by the States in May.
The package remains almost the same as that announced last year by Finance, with a three per cent goods and services tax at the centre of a strategy designed to plug a tax gap of between £80 million and £100 million that will result from the decision to move to a zero-ten per cent corporate tax rate structure.
