1. Pan-Channel Islands developments
1.1 Economic substance: scope
extended to partnerships
The Income Tax (Substance Requirements) (Implementation)
Regulations, 2021 came into effect in Guernsey on 30 June 2021 and
The Taxation (Partnerships – Economic Substance) (Jersey) Law
2021 came into force in Jersey on 8 October 2021, in both cases
widening the scope of the existing legislation in respect of
economic substance to include partnerships.
Transitional arrangements provide for an effective date of 1
July 2021 and a six-month transition period to 1 January 2022 for
partnerships established before 1 July 2021.
Please see our Jersey and Guernsey briefings for more
information.
