Overview of New Taxation Regime in Guernsey

Anticipated to be effective from 1 January 2008.  This Overview covers the amendments to the Income Tax(Guernsey) Law, (1975) (“ITL”) introduced by Income Tax (Zero 10) (Guernsey) Law, 2007 (“Amendment No. 1”), as set out in the Projet de Loi referred to the Billet d’Etat No. XX dated 26 September 2007 and Income Tax (Zero 10) (Guernsey) (No. 2) Law, 2007, (Amendment No. 2) dated 28 November 2007, as set out in the Project de Loi referred to in the Billet d’Etat No. XXIV as amended by two amendments presented to the States of Deliberation on 28 November 2007.

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