Income Tax (Guernsey) (Amendment) Law, 2015

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PROJET DE LOI

ENTITLED

The Income Tax (Guernsey) (Amendment) Law, 2015

THE STATES, in pursuance of their Resolution of the 11^th December, 2013[a], have approved the following provisions which, subject to the Sanction of Her Most Excellent Majesty in Council, shall have force of law in the islands of Guernsey and Herm.

Amendment of 1975 Law.

1. In section 39D of the Income Tax (Guernsey) Law, 1975, as amended[b] -

(a) in the heading to the section the word "business" is repealed, and

(b) for subsection (1)(b)(i) substitute the following subparagraph -

"(i) arose or accrued to the company -

(A) from the carrying on of a business in Guernsey, or

(B) from any other source whatsoever,

including, without prejudice to the generality of this subparagraph and for the avoidance of doubt, investment and other income arising or accruing to an investment company, and".

Citation.

2. This Law may be cited as the Income Tax (Guernsey) (Amendment) Law, 2015.

Commencement.

3. This Law shall have effect, by virtue of the States' resolution of the 28^th January, 2015[c], under and subject to the provisions of the Taxes and Duties (Provisional Effect) (Guernsey) Law, 1992[d], on and from the 26^th September, 2013, as if it were a Law sanctioned by Her Majesty in Council and registered on the records of the Island of Guernsey.

[a]	Article IX.9 of Billet d'État No. XXIV of 2013.
[b]	Ordres en Conseil Vol. XXV, p. 124; section 39D was inserted by the Income Tax (Guernsey) (Amendment) Law, 2009 (No. IX of 2011).
[c]	Article I of Billet d'État No. I of 2015.
[d]	Ordres en Conseil Vol. XXXIV, p. 247.