Guernsey Publishes Annual Budget for 2020

The Government of Guernsey has published the Annual Budget for 2020. Some of the main proposals as outlined in the Annual Budget include:

• Bringing income from the licensed activity of cultivation and manufacturing of the plant cannabis within the scope of the company higher income tax rate (20%);
• Extending the company intermediate rate (10%) to income from the activity of running an aircraft registry;
• Increasing excise duties on tobacco and motor fuel in line with existing policies and in…