Substantial Comfort For Fund Managers

It is now six months since Jersey joined representatives of more than 70 jurisdictions at the OECD Headquarters in Paris to sign an agreement designed to prevent corporate profit shifting.

The signing of the so-called 'Multilateral Instrument' (MLI) formed a key part of the OECD's Base Erosion and Profit Shifting (BEPS) project, and was a major step forward in terms of establishing a common understanding of what constitutes responsible corporate tax behaviour.

On 16th December, Jersey will have been an Associate and Member of the BEPS Inclusive Framework for six months, following the inaugural meeting in June - this reflects Jersey's commitment to be BEPS-compliant and its desire to contribute to policy dialogue as the BEPS project develops.