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Introduction For many Guernsey tax-resident companies, the onset of the COVID-19 pandemic created difficulties in complying with economic substance requirements. Guernsey tax-resident companies carrying out certain relevant activities must comply with the substance requirements set out in the Income Tax (Substance Requirements) Implementation Regulations 2018 (as amended) (the regulations). In particular, these include requirements that a company's activities be "directed and managed" from Guernsey, and that certain "core income-generating activities" (CIGAs) be carried out in Guernsey. Diffi...

Labour MEP says he will not support “disproportionate proposals for tax harmonisation” 

To print this article, all you need is to be registered or login on Mondaq.com. For many Guernsey tax resident companies, the onset of the COVID-19 pandemic created difficulties in complying with economic substance requirements. Guernsey tax resident companies carrying out certain relevant activities have to comply with the substance requirements set out within the Income Tax (Substance Requirements) Implementation Regulations 2018 (as amended) (the Regulations). In particular, these include requirements that a company's activities be "directed and managed" from Guern...

Expert guidance ensures all submissions are correct, thus avoiding unnecessary penalties.

Debate on Wednesday 20 January Iratxe García Pérez, S&D Group President  “2020 was a year of unparalleled challenges and today we are still in the midst of that same pandemic that changed our lives so dramatically. Emerging from the health crisis, we have to break with austerity once and for all, and end the unnecessary suffering that it brings to people’s lives. This starts with rolling out the Covid-19 recovery and resilience packages in all Member States to make sure that no one is left behind. With social rights at the heart of the agenda of the Portuguese presidency, w...