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Guernsey issues filing reminder and updates guidance

Jun 21, 2016

The Guernsey Tax office has just released a bulletin concerning AEOI filing requirements for 30th June 2016. The note principally serves to remind financial institutions (FI's) of their need to meet the filing deadline though opens the door for a FI to ask for an extension which will be considered on a case by case basis.

The note also covers Guernsey treatment of undocumented accounts given UK HMRC's recent updated guidance on the topic. Finally the reporting style of Trustee Documented Trusts is clarified and for 2016 reporting a separate submission will be required in respect of every Trust as each Trust will need to be named in the report presented by the Trustees.

The full note can be viewed here.

21st June 2016