Guernsey publishes Bulletin regarding CRS

On 27 December 2018, Guernsey published “Reportable and Participating Jurisdictions for Reporting Period 2018/2019 Bulletin” (“Bulletin 2018/3” or “The Bulletin”) regarding the Common Reporting Standard (“CRS”) (Link). The Bulletin was issued by the Director of the Revenue Service (“the Director”) under the provisions of Regulation 12 of “The Income Tax Regulations, 2015” (“The CRS Regulations”) (Link).

The purpose of this bulletin is to confirm the following:

  • the provisional Reportable Jurisdictions for the CRS 2018 Reportable Period (1 January – 31 December 2018, inclusive);
  • the provisional Reportable Jurisdictions for the CRS 2019 Reportable Period (1 January – 31 December 2019, inclusive);
  • the revised Participating Jurisdictions list; and,
  • the jurisdictions to which the Director sent information in relation to 2017 CRS data.

The Bulletin supersedes any previous Reportable and Participating Jurisdiction Lists published by the Director.

In addition, and according to the Bulletin, an Information Gateway Reporter (“IGOR”) User Guide for CRS and the Foreign Account Tax Compliance Act (“FATCA”) has been created to provide IGOR users with further assistance with the respective reporting. This user guide is available to download at the Guernsey Government’s website (Link).

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