With travel becoming more difficult due to the coronavirus pandemic, meeting substance requirements may be a challenge for some firms.
The Guernsey International Business Association (GIBA) has issued guidance on how Guernsey companies can remain compliant.
It is likely firms will struggle to meet the directed and managed test and demonstrate that all core income generating activities are taking place in Guernsey.
Therefore, the GIBA and the Guernsey Society of Chartered & Certified Accountants have had discussions with the Revenue Service where companies have had to adjust their operating practices to com...
