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New law to ensure duty payable on all real property transfers
Wednesday 18 October 2017

Royal Sanction has been granted in respect of the Document Duty (Guernsey) Law, 2017 and the Document Duty (Anti-Avoidance) (Guernsey) Law, 2017.

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From Star Wars to ghost tours
Monday 16 October 2017

There is a supernatural theme to October half term at Guernsey Museums this year.

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Asian hornet nest found near the Longfrie Inn
Friday 13 October 2017

An Asian hornet nest has been found today near the Longfrie Inn in St Peter's.

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Income Tax (Guernsey) (Amendment) Ordinance, 2017

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P.2017/33

The States are asked to decide:-

Whether they are of the opinion to approve the draft Ordinance entitled "The Income Tax (Guernsey) (Amendment) Ordinance, 2017", and to direct that the same shall have effect as an Ordinance of the States.

This proposition has been submitted to Her Majesty's Procureur for advice on any legal or constitutional implications in accordance with Rule 4(1) of the Rules of Procedure of the States of Deliberation and their Committees.

EXPLANATORY MEMORANDUM

This Ordinance exempts from charge to Guernsey tax, distributions from the accumulated profits of a company which is not incorporated in Guernsey, and which has not carried on business in Guernsey whether through a permanent establishment or otherwise, nor been used to hold Guernsey investments (other than bank deposits), which arose prior to the date the beneficial member of that company becomes resident in Guernsey, providing the individual has a beneficial interest in the company of 1% or more; and the distribution is made by the end of the second full year of charge since the individual became resident.  It also empowers the Committee to prescribe by regulation any limitations, conditions, restrictions and qualifications it considers necessary.

 

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Income Tax (Guernsey) (Amendment) Ordinance, 2017

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