By Simon Felton
New proposed requirements for an economic substance test for Jersey tax-resident entities have been published to meet the requirements of the EU Code of Conduct Group.
The reforms published today – and set to come into force on 1 January, subject to States approval – establish new tests for certain tax resident companies carrying on “relevant activities” in respect of demonstrating that they are “directed and managed” in Jersey, and that their “core income generating activities” are undertaken here.
