Guernsey lawmakers are to discuss the possibility of introducing a value-added tax system, at a debate scheduled for September 2021, it has been announced.
The Global Financial Centres Index was released on September 19, 2019, charting the top onshore and offshore financial centers worldwide, and for the first time the most innovative financial technology hubs.
The OECD has issued another update on jurisdictions‘ progress to amend their preferential tax regimes to remove harmful elements under the OECD base erosion and profit shifting Action Plan minimum standard on harmful tax regimes (Action 5).
The governments of Jersey, Guernsey, and the Isle of Man have jointly announced a series of steps to improve the accessibility and transparency of their respective registers of beneficial ownership information.
The UK Crown Dependencies have added to joint guidance issued in December 2018 on the economic substance requirements that are effective for accounting periods commencing on or after January 1, 2019.
Guernsey’s financial services regulator has signed a Memorandum of Understanding with the UK’s Financial Conduct Authority to ensure market access for Guernsey investment funds into the UK after Brexit.
The Crown Dependencies of Jersey, Guernsey, and the Isle of Man are consulting on proposals to require companies tax-resident in the islands undertaking specific income-generating activities to demonstrate they have sufficient „substance“ in the islands