Corporation tax on big retailers proposed in Jersey

Plans for a new 20% tax on big retailers is being put forward in Jersey.

Senator Sarah Ferguson has proposed an amendment that will see companies whose profits exceed £500,000 pay more.

It aims to reduce the amount of profits funnelled off island by large retailers which are not residents of Jersey.

At the moment, no retailers pay corporation tax.

Sarah Ferguson says the proposition would create "a fairer tax system".