Purpose

This consultation document is being issued to seek feedback from key stakeholders (including companies, industry associations, practitioners and any other interested parties) on the actions required in order for the States of Guernsey (“the States”) to address concerns raised by the Code of Conduct Group (Business Taxation).

The Policy & Resources Committee (“PRC”) is seeking feedback, comments and suggestions on the outline proposals contained within this consultation and how they can be implemented.  They draw on thinking within the OECD and EU relating to economic substance, as well as looking at legal and regulatory requirements that already exist in Guernsey.

This consultation is designed to seek feedback on the outline proposal so as to inform drafting of the relevant laws and allow government to ensure a smooth transition for companies carrying on relevant activities.

The closing date for submissions is Friday 31 August 2018.

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