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Economic Substance

In order to address concerns of entities allegedly generating too much profit and having too little substance?in low or zero-rate tax jurisdictions, the European Union (EU) has sought to introduce economic substance?requirements.?
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As a result, many international finance?centres?have introduced their own substance legislation. This?includes all the traditional offshore jurisdictions, including the British Virgin Islands (BVI), the Cayman?Islands and other strategically important locations.?

At?Vistra, we can help you navigate the EU substance requirements in affected jurisdictions. We?offer a?comprehensive range of options – from a classification check to a full review, as well as advisory services on?registering your status with the regulator.


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The EU's Economic Substance (ES) laws and regulations have now been in effect for more than three years. Over this time, the regulations have continued to evolve in terms of both the guidance published within jurisdictions and the announcements from relevant supervisory authorities.
When the European Commission published a draft Directive at the end of 2021 aimed at preventing the use of shell companies for tax purposes in the EU, it was widely recognised as a logical next step in an ongoing clampdown on tax avoidance and aggressive tax planning.
Whether you’re thinking about international expansion for the first time or are experienced at maintaining operations in multiple countries, there’s a strong chance you’ll benefit from this comprehensive review of cross-border considerations.
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