Jersey has published the Taxation (Companies – Economic Substance) (Jersey) Law 201-, which was adopted by the States on 6 December 2018 and is currently pending sanctioning and registration by the Royal Court. The Law introduces an economic substance test to address concerns of the EU Code of Conduct Group on Business Taxation that companies could be used to artificially attract profits that are not proportionate with economic activities and substantial economic presence in Jersey. The Law requires companies engaged in relevant activities to demonstrate they have substance, including: Banking business; Insurance business; Fund management business Finance and leasing business...