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Guernsey - Overview and introduction

Guernsey - Overview and introduction

Taxation of international executives


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Boats and ships in water, Guernsey

In Guernsey, each individual is regarded as a taxable unit, except in the case of spouses living together where the income of the younger partner is regarded as belonging to the elder partner for tax purposes. If this is the case, the elder partner is ultimately responsible for the completion of tax returns and for the payment of income tax on their own and their spouse’s income.

Individuals principally resident in Guernsey are subject to tax on their worldwide income, subject to a cap of GBP130,000 (with effect from 1 January 2019) tax on non-Guernsey source income, plus tax on Guernsey income at 20 percent, or alternatively GBP260,000 tax on worldwide income. Individuals who are resident but not principally resident are subject to tax on their worldwide income unless they elect to pay tax at 20 percent on their Guernsey-source income, subject to a GBP30,000 (minimum) charge. Non-resident individuals are liable to tax on Guernsey-sourced income only, excluding bank interest.

The official currency of Guernsey is the British Pound (GBP).

Herein, the host country/territory refers to the country/territory to which the employee is assigned. The home country/territory refers to the country/territory where the assignee lives when they are not on assignment.

© 2020 KPMG Channel Islands Limited, a Jersey company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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