CONSULTATION ON THE INTRODUCTION OF SUBSTANCE REQUIREMENTS FOR COMPANIES TAX-RESIDENT IN GUERNSEY

The States of Guernsey on 6th August published a news release saying that a consultation asks businesses for their views on proposals to introduce legislation that will require companies tax-resident in Guernsey, undertaking specific income generating activities, to demonstrate they have sufficient substance in the island, following the screening of a large number of non-EU jurisdictions undertaken by the European Commission Code of Conduct Group in 2017 to assess standards of tax transparency, fair taxation and compliance with measures to prevent base erosion and profit shifting (BEPS).  The consultation runs to 31st August.

https://www.gov.gg/article/166654/Consultation-on-the-introduction-of-substance-requirements-for-companies-tax-resident-in-Guernsey

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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