Jamie Bookless

Jan 15, 2025 | mondaq.com | Chris Hutley-Hurst |Dilmun Leach |Jamie Bookless |Sian Langley

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 updateshere:Channel Islands Regulatory Update: October2024Channel Islands Regulatory Update: August20241. On 5 December 2024 the UK's Sanctions (EU Exit)(Miscellaneous Amendments) (No.2) Regulations 2024 came into force.

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.

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.

Dec 2, 2024 | mondaq.com | Chris Hutley-Hurst |Dilmun Leach |Jamie Bookless |Sian Langley

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. 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.

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.