Jersey Leading the Way with Economic Substance Legislation

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The government in Jersey has proposed new legislation intended to fulfil the EU’s ‘sufficient economic substance’ test as per the Code of Conduct Group set up to take care of European Business Taxation.

Several other member states face being blacklisted as being non-cooperative jurisdictions; namely those that grant companies tax residence without enforcing an adequate level of economic substance demonstration. Jersey hopes to implement the law by the end of 2018.