Editing Sark (section)

===Taxation===
Sark is fiscally autonomous from [[Guernsey]], and consequently has control over how it raises taxes. There are no taxes on income, capital gains or inheritances. There is also no [[VAT]] charged on goods and services, but import duties (Impôts) are charged on some goods brought onto the island at around 70–75% of Guernsey rates. However, the island does levy a Personal Capital Tax, a Property Tax, a Poll Tax ("Landing Tax") on visitors coming to the island, and a Property Transfer Tax (PTT) on residential properties when they are sold.

The island has its own tax assessor (in 2016, this remained Simon de Carteret),<ref>{{cite web|url=http://www.gov.sark.gg/contacts.html|title=Contacts|website=Government of Sark|access-date=19 June 2015|archive-date=18 November 2009|archive-url=https://web.archive.org/web/20091118182023/http://www.gov.sark.gg/Contacts.html|url-status=dead}}</ref> who collects the [[Property Tax]], PTT, and the Personal Capital Tax (direct tax).<ref>{{cite web|url=http://www.gov.sark.gg/Downloads/Press_Releases/2014_Press_Releases/141113_Consultation_Revenue_Generation_and_Fairer_Taxation_Proposals.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://www.gov.sark.gg/Downloads/Press_Releases/2014_Press_Releases/141113_Consultation_Revenue_Generation_and_Fairer_Taxation_Proposals.pdf |archive-date=2022-10-09 |url-status=live|title=Proposals of the Finance & Commerce Committee, Sark|publisher=Government of Sark|date=12 November 2014}}</ref> Currently, the Personal Capital Tax ranges from a minimum of £450, to a maximum of £9,000 or 0.39% per annum (whichever is the lower).<ref>{{cite web|url=http://www.guernseylegalresources.gg/CHttpHandler.ashx?id=122027&p=0|title=Direct Taxes for 2020 (Sark) Ordinance, 2019|website=Guernsey Legal Resources|access-date=11 June 2020|date=6 November 2019}}</ref> In 2014, there were five taxpayers who paid the maximum amount of £6,400 (PCT and Property Tax combined), and six who paid zero tax. Residents over the age of 69 do not pay the PCT. If a resident chooses not to declare the value of their personal assets, they can elect to pay a flat-rate under the [[Forfaiting|Forfait]] method.

In 2006, Property Transfer Tax replaced the feudal ''Treizième''.<ref>{{cite web|url=http://guernseypress.com/news/2006/12/28/seigneur-gives-up-right-to-treizieme/|title=Seigneur gives up right to treizieme|publisher=[[Guernsey Press]]|date=28 December 2006|access-date=5 December 2017}}</ref> This used to be calculated by dividing the purchase price of any of the 30 tenements or 40 freehold properties on Sark by 13. The proceeds from doing this were then paid directly to the [[Seigneur]]. When the Treizième was abolished, the [[Chief Pleas]] introduced an indexed-linked pension of £28,000 per year, payable to the Seigneur.

An individual is considered to be a resident for tax purposes if they have remained on the island for at least 90 days in any tax year.<ref>{{cite journal|title=Direct Taxes (Sark) Law, 2002|url=http://www.guernseylegalresources.gg/article/94340/Direct-Taxes-Sark-Law-2002|website=Guernsey Legal Resources|access-date=4 December 2017|date=20 March 2012}}</ref>