Economic substance requirements for Guernsey companies
17 December 2018
The States of Guernsey has approved legislation which permits the implementation of economic 'substance' requirements into Guernsey's income tax law.
With effect from 1 January 2019, Guernsey tax resident companies undertaking specified activities are required to demonstrate that they each have a substantive presence in Guernsey.
This guide sets out the questions which should be considered to determine whether the substance test applies to a company and if so, whether that test will be met.