Small companies exempt from GST

Businesses in Jersey which make less than £300,000 a year will not have to register for goods and services tax, according to a States minister.

Companies earning less than the threshold will not have to add GST onto their products or services.

The 3% GST could be introduced in 2008 under a new tax system, which is predicted to leave a £100m hole in the government's finances.

Terry Le Sueur said exempt companies would still have to pay some tax.