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Guernsey

Americas

European banks’ tax haven use persists but varies widely, study finds

September 7, 2021

Large European banks report an average of 20% of their profits in tax havens, but some report more than half of their profits in such jurisdictions while others report none, according to a September 6 report from the EU Tax Observatory . . .

Africa

Profit shifting persists as corporate tax rates drop 30% in 20 years, OECD study finds

July 29, 2021

The OECD’s annual “Corporate Tax Statistics,” released July 29, reports that the statutory corporate income tax rate in 111 reviewed jurisdictions declined from an average of 28.3% in 2000 to . . .

Americas

Tax havens begin sharing information about entities that earn income from IP, other mobile activities

March 31, 2021

Twelve tax haven countries, for the first time, provided information about the activities of some business entities located in their countries to the countries where the entities’ parents or beneficial owners are tax residents, the OCED today announced. Anguilla, the Bahamas . . .

Europe

Guernsey advises financial intuitions of new country-by-country reporting schema and reporting requirements: States of Guernsey Revenue Service→

February 2, 2021
Europe

Guernsey informs reporting entities of country-by-country reporting schema change and reporting requirements: States of Guernsey Revenue Service→

February 2, 2021
Europe

Guernsey publishes updated MAP guidance: States of Guernsey Revenue Service→

November 23, 2020
Europe

Guernsey extends country-by-country reporting filing deadlines for constituent entities because of COVID-19: States of Guernsey→

November 12, 2020
Europe

Guernsey updates economic substance regs relating to self-managed CIVs effective October 1: Government of Guernsey→

September 17, 2020
Americas

OECD releases reports assessing tax dispute resolution in Brunei Darussalam, Curaçao, Guernsey, Isle of Man, Jersey, Monaco, San Marino, Serbia: OECD→

February 24, 2020
Europe

Guernsey sets out additional information required on tax return to establish economic substance: States of Guernsey Revenue Service→

October 15, 2019
American Samoa

Netherlands government publishes revised draft list of low tax jurisdictions

October 8, 2019

Jian-Cheng Ku and Rhys Bane of DLA Piper, Amsterdam, discuss the Dutch government’s October 7 release of a draft list of low tax jurisdictions which makes four changes from the previous list. . . .

Europe

New Zealand, Guernsey sign tax treaty protocol

September 18, 2019

The governments of New Zealand and Guernsey have signed protocol to their tax information . . .

Europe

Guernsey proposes introduction of limited liability companies: Jenna Lomax / Captive Insurance Times→

September 10, 2019
Europe

Guernsey proposes amendments to economic substance, tax residency rules

June 20, 2019

The Guernsey Revenue Service on June 17 announced proposed changes to the economic substance regulations for tax residency. The . . .

Americas

Corporate veil dropping: British crown dependencies make beneficial ownership registers public, US takes baby steps

June 24, 2019

Virginia La Torre Jeker, J.D., a US tax practitioner located in Dubai, discusses June 19 announcements of Jersey, Guernsey, and the Isle of Man about plans to make beneficial ownership registers for legal entities public and US legislation proposed June 11 in this area . . . 

Americas

Tax laws of 12 low-tax countries including BVI, Bermuda, Cayman don’t harm other countries, 131-country group concludes

July 23, 2019

An OECD-led 131-country coalition, known as the “Inclusive Framework on BEPS,” has approved. . .

Asia-Pacific

Singapore’s tax treaties with Finland and Guernsey amended by MLI

June 3, 2019

The Inland Revenue Authority of Singapore (IRAS) has announced that amendments to . . .

Europe

Updated UK-Guernsey tax treaty enters into force

January 22, 2019

A new comprehensive tax treaty and protocol signed by the UK and Guernsey has entered into force, the UK . . .

Americas

MNEs asked to assess tax treaty MAP in Guernsey, Isle of Man, Jersey, Monaco, San Marino, Serbia, Brunei, Curaçao

February 19, 2019

The OECD today asked multinational taxpayers and their advisors to provide information about their experiences with the tax treaty . . .

Europe

Guernsey, Isle of Man, Jersey publish tax guidance on economic substance

May 7, 2019

The governments of Guernsey, Isle of Man, and Jersey on April 26 jointly published draft tax guidance on economic substance . . .

Europe

Guernsey publishes MAP guide for resolving cross-border tax disputes

May 6, 2019

The government of Guernsey on April 30 published new guidelines for taxpayers on how to take . . .

Americas

US agrees to exchange country-by-country tax reports with Spain, announces effective dates of Malta and Guernsey agreements

December 21, 2017

The US has signed a competent authority agreement with Spain to exchange country-by-country tax reports on multinational firms, the IRS announced December 20. The IRS also announced the effective dates of competent authority agreements signed with Malta and Guernsey. All three . . .

Europe

Guernsey ratifies multilateral tax treaty aimed at closing MNE tax loopholes

February 12, 2019

Today, Guernsey became the 20th jurisdiction to deposit with the OECD its instrument of ratification for . . .

Africa

US has agreed to country-by-country tax info exchange with 11 countries, OECD says

June 22, 2017

The United States has so far put in place 11 bilateral competent authority arrangements for the automatic exchange of country-by-country reports, the OECD reported a June 22 release. The US now has . . .

American Samoa

Netherlands publishes tax ‘blacklist’ for CFC rules

January 8, 2019

Jian-Cheng Ku, Robin Theuns, and Rhys Bane of DLA Piper Nederland N.V., discuss the Dutch Ministry of Finance’s blacklist of low tax jurisdictions for controlled foreign company purposes. published December 28, 2018 . . . 

No Picture
Europe

Jersey, Guernsey, Isle of Man to be considered for EU blacklist post-Brexit: New Europe→

January 16, 2018
No Picture
Europe

EU tax haven blacklist may force Jersey, Guernsey, Isle of Man to impose significant corporate tax: Richard Murphy / Tax Research UK→

December 6, 2017
Africa

UK requires companies in Caymans, BVI, other territories, to publicly disclose ownership

May 2, 2018

Britain’s overseas territories, including the tax havens of Cayman Islands, British Virgin Islands, and Bermuda, must introduce publicly accessible registers of the beneficial ownership of companies located in their jurisdictions before 2021 or the UK will require them to do so, a law approved by UK Parliament . . .

Americas

Illinois bill would forbid state contracts with expatriated residents of 38 ‘tax havens’ including Luxembourg: Brendan Bakala / Illinois Policy→

April 10, 2017
Europe

Guernsey considers adding substance requirement for tax-residency

August 8, 2018

The government of Guernsey has launched a public consultation on a proposal to require companies engaging in certain business activities to meet substance . . .

Americas

Hong Kong signs AEOI pacts with Belgium, Canada, Guernsey, Italy, Mexico and  Netherlands

March 20, 2017

Hong Kong signed treaties with six countries on March 16 for the automatic exchange of financial account information (AEOI) in tax. . .

No Picture
Belgium

EU committee publishes letters from 13 nations on tax ruling practices

June 29, 2015

A European Parliament committee has published letters from EU member state officials describing tax ruling practices, efforts to combat tax avoidance, and compliance with EU spontaneous exchange of information directives. The letters, published by. . .

Africa

UK announces plans to begin tax treaty negotiations with several nations

November 13, 2015

In a paper released November 13, the UK’s HMRC has announced that it will begin tax treaty negotiations with Nepal, Romania, Trinidad, Tobago . . .

Europe

Guernsey and Korea sign TIEA

October 1, 2015

The government of Guernsey has announced that it signed a tax information . . .

Europe

Spain, Guernsey sign tax information exchange agreement

November 11, 2015

Guernsey and Spain on November 10 signed an agreement on exchange of information . . .

No Picture
Americas

EU tax haven blacklist disputed by OECD and listed countries

June 21, 2015

OECD tax officials have expressed dissatisfaction with a blacklist of 30 tax havens prepared by the European Commission, as have several countries on the list . . .

Africa

UK changes interpretation of corporate tie-breaker clause for residency in existing tax treaties

December 1, 2015

The UK’s HM Revenue and Customs (HMRC) on November 30 announced that it has changed its interpretation of the company residence tie breaker clause in the Jersey-UK tax treaty and in 15 other tax treaties that . . .

Europe

Guernsey issues guidance on tax obligations of companies incorporated overseas but controlled in Guernsey

April 8, 2015

Guernsey’s Director on Income Tax on April 8 issued guidance on when companies incorporated overseas are deemed to be a resident of Guernsey because they are controlled there. Guidance was also released on the filing obligations of such companies. The guidance provides that, generally, companies incorporated overseas but . . .

No Picture
Europe

Switzerland’s TIEAs with Jersey, Guernsey, and the Isle of Man enter into force

November 5, 2014

Agreements between Switzerland and Jersey, Guernsey, and the Isle of Man regarding the exchange of information on tax matters have entered into force. The agreements . . .

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What’s Next

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May 24IFA Webinar Series Pillar Two: An UpdateVirtual Event
Sept. 4 – 8IFA CongressBerlin
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RECENT COMMENTS
  • Khaled Al Zaabi on Spanish government proposes digital services tax: “We are seeking assistance with Digital Assets and International Tax Consulting to help Abu Dhabi UAE Oil Company navigate the…” October 24 ,2024
  • Emma Hinson Sims on The Pillar One blueprint — the potential future of international taxation and transfer pricing: “HAPPY BIRTHDAY TO A VERY SMART, BEAUTIFUL, YOUNG LADY ON JANUARY 13TH.” January 6 ,2024
  • David Valdez on US Tax Court resolves Whirlpool tax dispute involving Mexican maquiladora structure: “Greetings Whirlpool Mexico, I’m trying to contact someone involved with the decision making for transportation from all of your Mexican…” October 20 ,2023
  • Jose Dominguez on The new US international tax rules: what you need to know about GILTI, FDII, BEAT etc.: “Very informative article. Question. Do you have a software to compute these US International Calcs to make them in house?” April 12 ,2023
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Latest

  • Policy Paper: Transfer pricing documentation
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  • Indonesia Taxes Crypto Asset Transactions
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Recent Comments

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  • Emma Hinson Sims on The Pillar One blueprint — the potential future of international taxation and transfer pricing: “HAPPY BIRTHDAY TO A VERY SMART, BEAUTIFUL, YOUNG LADY ON JANUARY 13TH.” January 6 ,2024
  • David Valdez on US Tax Court resolves Whirlpool tax dispute involving Mexican maquiladora structure: “Greetings Whirlpool Mexico, I’m trying to contact someone involved with the decision making for transportation from all of your Mexican…” October 20 ,2023
  • Jose Dominguez on The new US international tax rules: what you need to know about GILTI, FDII, BEAT etc.: “Very informative article. Question. Do you have a software to compute these US International Calcs to make them in house?” April 12 ,2023
  • Ciro César Soriano de Oliveira on Danish High Court rules on beneficial ownership of dividends for tax purposes: “Dear Ms Susi, This article is immensely clarifying. I’d like to know whether Danish Supreme Court has already granted its…” March 24 ,2023

R&D Tax Credit News

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    April 20, 2022
  • US House of Representatives Ways and Means Committee Republicans reintroduce R&D-related legislation: Committee on Ways and Means→
    April 20, 2022
  • Irish Department of Finance seeks public comments by May 30 on research & development (R&D) tax credit and the `Knowledge Development Box,’ an OECD-compliant intellectual property regime, which provides relief from corporation tax on income arising from qualifying assets, such as computer programs and inventions protected by a qualifying patent: Irish Ministry of Finance→
    April 18, 2022
  • What does the Marijuana Opportunity Reinvestment and Expungement Act mean for the R&D tax credit?
    April 7, 2022
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Accounting & Reporting News

  • Calls are increasing for company disclosures on tax to help build public trust and fit in with environmental, social and governance (ESG) agenda: Aidan Lucey / The Irish Times→
    April 20, 2022
  • Will Amazon’s investors make the rules on tax transparency more clear?: CrossBorder Solutions→
    April 13, 2022
  • US Senate Finance Committee Chair Ron Wyden requests pharmaceutical company Merck explain its tax accounting practices, as it reports just 14% of pretax income in the US despite US market being home to 46% of global sales: Ron Weyden / US Senate Committee on Finance→
    April 5, 2022
  • UK Supreme Court holds on the tax deductibility of employee share options required under IFRS 2
    March 29, 2022
  • Annual vs. quarterly provision: Howard Telson / CrossBorder Solutions→
    March 23, 2022

Transfer Pricing News

  • New CbC Reporting Requirements to Apply in Kenya
    July 7, 2022
  • The Evolution of Transfer Pricing in Saudi Arabia
    June 23, 2022
  • The Functional Analysis—What You Need to Know
    June 22, 2022
  • How International Organizations are Changing Transfer Pricing Compliance
    June 22, 2022
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    June 22, 2022

US tax focus

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Trending Now

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