The Commission has published a Consultation Paper containing proposals, which, if implemented, would allow different investor categories to take advantage of an appropriately regulated fund structure. The proposed amendments would complete the current approach for
The States of Guernsey Annual Budget was published on Monday 16 November 2020 and can be found here. The Budget has been prepared in the context of the economic impact of the Covid-19 pandemic and the pressures caused by this.
They have proposed the amendment of Section 40(nn) of the Income Tax (Guernsey) Law to clarify that income paid from an international savings plan is exempt from tax. Fiduciary Licensees should be aware that, if successful, the proposal to exempt income paid from international savings plans will also require an amendment to the definition of gratuity scheme within section 2(1)(e) of the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2000.
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The Commission has published a Consultation Paper seeking feedback on proposals for changes to the Non-Guernsey Scheme regime. If the proposal is implemented any entity undertaking a restricted activity in or from within the Bailiwick
The Commission has published new guidance aimed at providing clarification about Designated Custodians’ duties and the standards of conduct that are expected of them when they act for Open-Ended Collective Investment Schemes. Designated Custodian should