OrbitaxJersey Clarifies Economic Substance Test During COVID-19 Pandemic
|Approved Changes|Jersey
The Jersey government has updated its guidance page on economic substance for companies with a notice on economic substance in light of the COVID-19 pandemic.
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Coronavirus (COVID-19) and economic substance
Where companies operating practices have to be adjusted to compensate for the Coronavirus outbreak, the Comptroller will not determine under Article 6, Taxation (Companies- Economic Substance) (Jersey) Law 2019, that a company has failed the economic substance test.
Where a company…