Public unit trusts and investment companies resident in Guernsey can be exempt from local income tax. Exempt investment funds are subject to certain conditions including:
- Managerial and secretarial services must be provided to the company by resident managers in return for an arm's length fee.
- Income tax must be deducted from dividends paid to Guernsey-resident investors and paid over to the Guernsey tax authorities.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.