On 23 October 2018, the Jersey Government announced the lodgment of the draft Taxation Companies Economic Substance Law, which introduces an economic substance test for companies to address concerns of the EU Code of Conduct Group on Business Taxation. A deadline of 31 December 2018 has been set for the delivery of the commitments Jersey has made to address the substance concerns, which if not met, may result in Jersey being listed as a non-cooperative jurisdiction (currently grey-listed based on its commitments). The draft law is scheduled to be debated in the States Assembly on 4 December 2018.