Jersey has published the Income Tax (Amendment of Law – Taxation of Cannabis Companies) (Jersey) Regulations 2021, which will enter into force on 1 January 2022. The regulations follow amendments as part of the 2021 Budget that allowed for the introduction of regulations for the taxation of companies within the cannabis industry.
The regulations insert a new Article 123DA into the Income Tax Law. The new article defines what it means for a company to be in the cannabis industry, including i…