On 6 May, Charles Russell Speechlys released a podcast, and accompanying article on economic substance laws which require ‘relevant entities’ carrying on ‘relevant activities’ to show economic substance in their jurisdiction of incorporation. The aim is to counteract the effects of zero tax and preferential tax regimes. The jurisdictions affected are Anguilla, the Bahamas, Bahrain, Bermuda, the BVI, the Cayman Islands, Guernsey, the Isle of Man, Jersey, the Marshall Islands, Turks and Caicos, the UAE, and Vanuatu.
If you’d like to help to contribute to the cost of the new laptop and desktop I have had to acquire, now that I am 5,000 miles away from my originals – https://www.buymeacoffee.com/KoIvM842y
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