Guernsey is continuing to take steps to build on its position as
a BEPS-compliant jurisdiction.
A year ago the island established a base erosion and profit
shifting (BEPS) working party to assess the OECD's October 2015
BEPS Action Plans, as well as scrutinise the EU Commission's
'BEPS Directive'. The working party is chaired by
Guernsey's Chief Minister, Deputy Gavin St Pier, and includes
Guernsey Finance Chairman Lyndon Trott as well as tax professionals
and representatives of the Guernsey Institute of Directors and the
Guernsey Society of Certified and Chartered Accountants.
Discussions between the working party and local business bodies
have demonstrated that Guernsey is already largely compatible with
the BEPS actions – effectively, a BEPS-compliant jurisdiction
– due to Guernsey's finance sector model and a regulatory
framework which prevents the island being exploited significantly
for BEPS and ensures equivalent outcomes to those that both the
OECD and EU
