Channel Islands: Guidance on CRS and cryptoasset reporting framework (Guernsey)

Guernsey is currently drafting the domestic legislation to incorporate CARF into its legal framework.

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July 3, 2025

The Guernsey Revenue Service issued Compliance Information Notice 2025/1—under Regulation 12 of The Income Tax (Approved International Agreements) (Implementation) (Common Reporting Standard (CRS) Regulations, 2015)—that outlines information regarding the CRS and the cryptoasset reporting framework (CARF).

Guernsey is currently drafting the domestic legislation to incorporate CARF into its legal framework. Additionally, Guernsey is updating its Information Gateway for Online Reporting (IGOR) system in preparation for the first CARF reporting scheduled in June 2027 for 2026 reporting period data.

Read a July 2025 report prepared by the KPMG member firm in the Channel Islands

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