Guernsey has published the Income Tax (Substance Requirements) (Implementation) (Amendment) Regulations 2019, which came into force on 1 August 2019. The amendment regulations provide for the implementation of the proposed changes announced as part of GSCCA Circular 11 of 17 June 2019 ({News-2019-06-20/P/4-previous coverage}). This includes amendments to expand the scope of the substance requirements to exempt companies, except collective investment vehicles, as well as amendments to clarify…