On 8 April 2024, the British Virgin Islands International Tax Authority issued a notice on updates to the economic substance rules. --- Notice From The International Tax Authority Update To Rules On Economic Substance The latest update from the International Tax Authority regarding the Rules on Economic Substance (v4) as of 2 April 2024, has been released. This particular update focuses on Rule 5, and notably excludes the United Arab Emirates from the list of jurisdictions without a corporate income tax system. It is very important for entities to carefully consider the financial periods when claiming non-residence status in the...