The Guernsey Revenue Services has published GSCCA Circular 11 of 17 June 2019 on proposed changes to the regulations for Guernsey's economic substance requirements, which were introduced from January 2019. Proposed changes to the economic substance regulations include:
- Amendments to bring companies that have been granted exemption within the scope of the substance requirements, except for regulated collective investment vehicles;
- Amendments to clarify the core income generating activities (…