On 24 April 2017, Seychelles published the ratification instrument for the protocol to the 2011 tax information exchange agreement with Guernsey. The protocol, signed 12 August 2016 by Seychelles and 1 September 2016 by Guernsey, repeals Article 11 (No Prejudicial or Restrictive Measures) of the agreement. Article 11 provides that neither Party may apply prejudicial or restrictive measures based on harmful tax practices to residents, nationals or citizens of the other Party, such as the denial of a deduction, credit or exemption, the imposition of a tax, charge or levy, or special reporting requirements.
The protocol will enter into force once the ratification instruments are exchanged, and will generally apply from that date.
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