Guernsey, the Isle of Man, and Jersey have issued Joint Guidance on the Application of the Economic Substance Rules to Partnerships. --- 1 Introduction and Purpose Legislation introducing economic substance requirements for partnerships in the Crown Dependencies was approved by the respective parliaments in 2021. The legislation applies to all partnerships resident for tax purposes in the Crown Dependencies and is effective at various dates depending on the type of provision and type of partnership. This document is the third piece of guidance issued jointly by the Crown Dependencies. This document provides additional guidance on the scope and application of...