Jersey, Guernsey and the Isle of Man have published consultations on the introduction of substance requirements for companies that are tax resident in those jurisdictions.
Jersey Guernsey and the Isle of Man have published consultations on the introduction of substance requirements for companies that are tax resident in those jurisdictions. This is in response to concerns expressed by the EU Commission about companies that do not have sufficient substance in the relevant jurisdiction to justify access to their corporate tax rules. The new measures are being introduced to avoid being classed as uncooperative jurisdictions by the EU.
The new rules will require companies that are tax resident in Jersey Guernsey or the Isle of Man and that are engaged in certain activities including banking insurance fund management leasing shipping and intellectual property to demonstrate in their tax return that they meet certain...
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Jersey, Guernsey and the Isle of Man have published consultations on the introduction of substance requirements for companies that are tax resident in those jurisdictions.
Jersey Guernsey and the Isle of Man have published consultations on the introduction of substance requirements for companies that are tax resident in those jurisdictions. This is in response to concerns expressed by the EU Commission about companies that do not have sufficient substance in the relevant jurisdiction to justify access to their corporate tax rules. The new measures are being introduced to avoid being classed as uncooperative jurisdictions by the EU.
The new rules will require companies that are tax resident in Jersey Guernsey or the Isle of Man and that are engaged in certain activities including banking insurance fund management leasing shipping and intellectual property to demonstrate in their tax return that they meet certain...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")