1 Developments in the Channel Islands
1.1 2019 Tax Returns
Details of the information which will be requested in relation
to economic substance on the Guernsey company tax return has been
published by Guernsey's Revenue Service and will be of
relevance to any company which falls within the scope of the
substance legislation and will apply to accounting periods on or
after 1 January 2019.
The disclosure requirements contained in the publication are
consistent with the equivalent disclosures which were published in
April by the States of Jersey – see the Jersey guidance here.
The publication also sets out expectations in relation to filing
of financial statements and how to deal with this where companies
prepare consolidated financial statements. The Guernsey guidance
can be found here.
