Guernsey has published the Income Tax (Substance Requirements) (Implementation) (Amendment) Regulations 2020, which were made on 10 September 2020 and include amendments to the Income Tax (Substance Requirements) (Implementation) Regulations 2018. The amendments extend the scope of the regulations by providing that the regulations do not apply to a collective investment vehicle unless it is a self-managed collective investment vehicle.
Further, it is provided that a self-managed collective…