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Jan 10, 2025 | 
jdsupra.com | Jamie Bookless |Amman Bulchandani |Chris Hutley-Hurst
This update provides an overview of the recent key publications, findings and reports issued during the last quarter. You can find previous editions of our Regulatory updates here:Channel Islands Regulatory Update: October 2024Channel Islands Regulatory Update: August 2024Guernsey Legislative update 1. On 5 December 2024 the UK's Sanctions (EU Exit) (Miscellaneous Amendments) (No.2) Regulations 2024 came into force.
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Dec 5, 2024 | 
jdsupra.com | Jamie Bookless |Amman Bulchandani |Chris Hutley-Hurst
Guernsey has passed legislation to implement the OECD's global minimum tax rate of 15%, known as "Pillar 2", which will apply for fiscal years commencing on or after 1 January 2025. Recap – What is Pillar 2? Pillar 2 is an OECD initiative that ensures that multinational enterprises with a consolidated annual turnover of at least €750 million (MNEs) pay a minimum blended "effective tax rate" (ETR) of 15% on their worldwide profits, no matter where those profits arise.
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Nov 21, 2024 | 
jdsupra.com | Jamie Bookless |Amman Bulchandani |Chris Hutley-Hurst
Jersey has passed legislation to implement the OECD's global minimum tax rate of 15%, known as "Pillar 2", which will apply for fiscal years commencing on or after 1 January 2025. Recap – What is Pillar 2? Pillar 2 is an OECD initiative that ensures that multinational enterprises with a consolidated annual turnover of at least €750 million (MNEs) pay a minimum blended "effective tax rate" (ETR) of 15% on their worldwide profits, no matter where those profits arise.
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Nov 7, 2024 | 
mondaq.com | Gemma Palmer |Sarah Townsend |Amman Bulchandani
Fintech initiatives in Jersey
This chapter was originally published in Global Legal
Insights FinTech 2024.
Financial technology is already well established in Jersey, and
firms are embedding technological solutions which enhance their
products and services, increase efficiencies, and provide greater
transparency.
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Nov 4, 2024 | 
jdsupra.com | Jamie Bookless |Amman Bulchandani |Chris Hutley-Hurst
Key takeaways The financial services sector in the Channel Islands has seen the publication of a report by MONEYVAL, a proposal to increase administrative penalties and the release of two public statements.
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Sep 30, 2024 | 
jdsupra.com | Amman Bulchandani |Dilmun Leach |Gemma Palmer
Approaches and developmentsFintech initiatives in JerseyThis chapter was originally published in Global Legal Insights FinTech 2024. Financial technology is already well established in Jersey, and firms are embedding technological solutions which enhance their products and services, increase efficiencies, and provide greater transparency.
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Sep 18, 2024 | 
mondaq.com | Gemma Palmer |Sarah Townsend |Amman Bulchandani
Fintech initiatives in Jersey
Financial technology is already well established in Jersey, and
firms are embedding technological solutions which enhance their
products and services, increase efficiencies, and provide greater
transparency. With its digital environment, Jersey is an attractive location for
both innovative start-ups and established businesses, and there is
a thriving fintech cluster, providing opportunities for
partnerships, knowledge sharing and innovation.
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May 28, 2024 | 
lexology.com | Chris Hutley-Hurst |Dilmun Leach |Jamie Bookless |Gemma Palmer |Sian Langley |Amman Bulchandani
IntroductionFollowing on from the Crown Dependencies re-affirming their commitment to implementing the Organisation for Economic Co-operation and Development’s Pillar Two framework for accounting periods commencing on or after 1 January 2025 (see our briefing here), Guernsey has announced further details of the Pillar Two rules it intends to implement.
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May 28, 2024 | 
lexology.com | Chris Hutley-Hurst |Dilmun Leach |Jamie Bookless |Gemma Palmer |Sian Langley |Amman Bulchandani
IntroductionThe Crown Dependencies have re-affirmed their commitment to international tax standards and the continued value of inter-island cooperation in areas of mutual interest in international tax policy. Ministers from governments from Guernsey, Jersey and the Isle of Man met last week to discuss international tax matters and progress following the Crown Dependencies’ joint statement published in May 2023 on the Organisation for Economic Co-operation and Development’s Pillar Two framework.
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May 23, 2024 | 
jdsupra.com | Jamie Bookless |Amman Bulchandani |Chris Hutley-Hurst
Following on from the Crown Dependencies re-affirming their commitment to implementing the Organisation for Economic Co-operation and Development’s Pillar Two framework for accounting periods commencing on or after 1 January 2025 (see our briefing here), Guernsey has announced further details of the Pillar Two rules it intends to implement.
