 The new 0/10 tax exempts all businesses except those in financial services from having to pay any corporation tax (0%), while leaving the financial services to pay a low tax rate (10%).The income generated from the new 0/10 tax proposal will not be equal to the revenue of the original tax system and this leaves Jersey with a deficit in its budget of several million pounds.To fill the deficit created by the changes made to Jersey's tax structure, the States of Jersey introduced GST.