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Guernsey: Domestic Corporate Taxion

Taxation of Trust

When the beneficiaries of a trust are non-resident, full exemption from Guernsey taxation is given to foreign income and Guernsey bank interest, by concession, whether or not the income is distributed.

The trustee of a trust with Guernsey-resident beneficiaries may be charged with tax due on trust income, although the tax is normally assessed directly on the beneficiary. The trustee is entitled to any allowances which would apply to the beneficiary.

Unit trusts are treated in the same way as other trusts; the existence of Jersey unit-holders does not affect exemption, subject to some conditions.



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