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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.
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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.
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Nov 1, 2024 | 
jdsupra.com | Kirsten Faichnie |Julia Keppe |Sian Langley
Key takeaways There are various safe harbours from the Jersey prospectus regime, with a light regulatory approach applying in most cases. Debt securities issuers are, generally, not in scope for the purposes of the Jersey AML/CFT Regime. Jersey continues to be a jurisdiction of choice as a sophisticated international financial centre. IntroductionJersey is a well-established jurisdiction of choice for issuing debt securities in international finance transactions.
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Oct 10, 2024 | 
mondaq.com | Chris Hutley-Hurst |Dilmun Leach |Jamie Bookless |Sian Langley
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 11, 2024 | 
mondaq.com | Chris Hutley-Hurst |Dilmun Leach |Jamie Bookless |Sian Langley
KEY TAKEAWAYS:
Welcome to the first Walkers Channel Islands' Regulatory
Update
This update will focus on data protection
We will provide an overview of the recent (and noticeable)
publications, findings and reports issued during the period January
2024 to July 2024
Welcome to the first Channel Islands' Regulatory Update. Every quarter the Walkers Channel Islands' Regulatory &
Risk Advisory Team will reflect on some of the key regulatory
developments in the Channel Islands.
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Aug 21, 2024 | 
jdsupra.com | Jamie Bookless |Chris Hutley-Hurst |Sian Langley
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 | 
mondaq.com | Chris Hutley-Hurst |Jamie Bookless |Dilmun Leach |Sian Langley
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.
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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.
