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Nov 22, 2024 | 
mondaq.com | Chris Hutley-Hurst |Dilmun Leach |Jamie Bookless |Gemma Palmer
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.
This 15% minimum rate is achieved through jurisdictions enacting
the OECD's Global Anti-Base Erosion (GloBE) Rules. These rules
allocate taxing rights amongst certain jurisdictions that are
relevant to the MNE group.
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Nov 11, 2024 | 
jdsupra.com | Dilmun Leach |Gemma Palmer |Sarah Townsend
KEY TAKEAWAYS It is possible to issue RWA tokens using a Jersey company to act as the issuer. The Jersey regulator has published a guidance note on the tokenisation of RWAs. This guidance note sets out the applicable requirements and provides increased execution certainty for applicants. Jersey is increasingly a destination of choice for the tokenisation of real world assets ("RWAs"). Jersey has an excellent reputation globally for meeting high international regulatory standards.
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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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Oct 28, 2024 | 
mondaq.com | Gemma Palmer |Sarah Townsend
W
Walkers
More
Walkers is a leading international law firm which advises on the laws of Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Ireland and Jersey. From our 10 offices, we provide legal, corporate and fiduciary services to global corporations, financial institutions, capital markets participants and investment fund managers.
Jersey has an excellent reputation globally for meeting high international regulatory standards.
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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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Aug 21, 2024 | 
mondaq.com | Chris Hutley-Hurst |Dilmun Leach |Gemma Palmer |Jamie Bookless
Following Jersey's intention to implement the OECD proposals
for a 15% global minimum tax rate (known as "Pillar
2") in May 2024, draft legislation has now been
lodged introducing a new standalone Multinational Corporate Income
Tax (MCIT) to sit alongside Jersey's existing
corporate income tax regime, together with an Income Inclusion Rule
(IIR)."
The draft legislation is expected to be debated in early
October, with a view to the new rules coming into effect on 1
January 2025.
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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 26, 2024 | 
mondaq.com | Jamie Bookless |Dilmun Leach |Sian Langley |Gemma Palmer
The 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.
