Guernsey And Jersey Re-Affirm Commitment To OECD Pillar Two Implementation

The Crown Dependencies have re-affirmed their commitment to international tax standards and the continued value of inter-island cooperation in areas of mutual interest in international tax policy.

Ministers from governments from Guernsey, Jersey and the Isle of Man met last week to discuss international tax matters and progress following the Crown Dependencies' joint statement published in May 2023 on the Organisation for Economic Co-operation and Development's Pillar Two framework.

Most recently, the respective Ministers discussed each Island's implementation plans for Pillar Two and noted they would shortly be commencing their respective legislative procedures to a common timeline with introduction for accounting periods commencing on or after 1 January 2025.