The Taxation (Companies - Economic Substance) (Jersey) Law 2019
came into force on 1 January 2019. All tax returns filed in 2019
will need to confirm whether or not a company carries out any
relevant activity under the law, with more detailed reporting
applying to the tax returns completed in 2020 (relating to the tax
year 2019).
The substance requirements apply to Jersey tax-resident
companies that carry on certain specified geographically mobile
activities, including fund management business. They have been
implemented in order to comply with the requirements of the EU Code
of Conduct Group for the purpose of demonstrating that the profits
generated by such companies are commensurate with their economic
activities and presence in Jersey. Jersey was put on the EU
whitelist on 12 March.
