US EditionStates of Guernsey agrees action to prevent tax avoidance
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States of Guernsey agrees action to prevent tax avoidance
The Policy & Resources Committee has agreed action to prevent an avenue of tax avoidance to ensure that everyone pays their fair share. Currently, some individuals set up personal investment companies making non-commercial shareholder loans to the companies so that they can then draw down on this through loan repayments, paying 0% tax. To address this, an additional example has been added to the Statement of Practice M45 ‘Legal avoidance’ to mak…
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