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Double Taxation Agreements

Guernsey has entered into full double taxation treaties with Hong Kong, the Isle of Man, Jersey, Liechtenstein, Luxembourg, Malta, Mauritius, Monaco, Qatar, Seychelles, Singapore, and the United Kingdom. It has also signed a number of others which will be in force shortly and entered into several partial double taxation agreements. There are also unilateral provisions relating to relief from double taxation whereby relief may be given of up to three quarters of the Guernsey effective rate in respect of tax levied on the same income in any other territory.

 

Tax Information Exchange Agreements (TIEAs) have been concluded with over forty jurisdictions. Double Taxation Agreements can assist with the alleviation of withholding tax which may otherwise may be deductible and have other benefits, whereas, in the main, TIEAs relate to exchange of information. However Guernsey is a very compliant jurisdiction and whilst a TIEA may not afford taxation advantages per se to Guernsey companies or resident individuals, it should mean that discriminatory practices are not imposed and in some circumstances other benefits result.