All Guernsey financial institutions (FIs) will have to register on the Revenue Service's information gateway online reporter (IGOR) system soon.

This is regardless of whether they have reporting obligations under the OECD's Common Reporting Standard (CRS) or the US Foreign Account Taxes Compliance Act (FATCA), law firm Carey Olsen has said.

The new rule is part of a package of measures in the Income Tax (Guernsey) (Amendment) Ordinance 2021 (the Ordinance).

This ...