Guernsey
Overview of CbC reporting requirements
First reporting fiscal year: Commencing on or after 1 January 2016
Consolidated group revenue threshold: EUR 750 million
Filing deadline: 12 months following the end of the reporting fiscal year
The domestic legal and administrative framework
Guernsey’s 2017/2018 peer review included a monitoring point relating to the absence of processes in place to take appropriate measures in case Guernsey is notified by another jurisdiction that an error may have led to incorrect or incomplete information reporting by a Reporting Entity or that there is noncompliance of a Reporting Entity with respect to its obligation to file a CbC report. Guernsey has put the relevant processes in place and so this monitoring point is now removed.
Guernsey confirms that its rules have not changed and continue to be applied effectively. Guernsey continues to meet all terms of reference.