Jersey is set to introduce taxation for enveloped property transactions, in order to combat a "loophole" within the sysytem.
Currently, the purchase of a property through the acquisition of the share capital of a property owning company is exempt from stamp duty.
According to offshore law firm Ogier, Jersey's authorities now intend to bring forward legislation to impose a tax equivalent stamp duty on such sales, effectively closing this "loophole."
Guernsey introduced a sim...
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