The standard rate of income tax in Jersey is 20%. This rate is currently applicable both to individuals and corporate entities, as well as partnerships and branches of overseas companies.

The island has no separate corporation tax code, although there are plans to introduce a corporate tax regime by 2009 (see below for further details).

There are no 'wealth' taxes such as capital gains tax or inheritance tax.

Other attractions of the Jersey tax system include generous rules for the taxation of employee share ownership; Social Security payments capped at a low level; no stamp duty on equity transactions; and an excellent working relationship between the Finance Industry and the Tax Office which promotes openness and economic growth.

As part of its international commitments, Jersey has indicated that it will move to a 'zero/ten' corporation tax regime in due course. Under 'zero/ten', companies will generally be taxed at 0% and there will be a special 10% rate applying to certain regulated financial businesses. These changes are intended to be in place by 2008 for the first full year of tax assessment thereafter, i.e. from 1st January 2009.