Cayman Islands | Economic substance – COMMUNICATION
The International Tax Co-operation (Economic Substance) Law (as Revised) (the “Law”) came into force on 1 January 2019 and introduces certain reporting and economic substance requirements for Relevant Entities carrying on Relevant Activities. First-Year Deadlines The DITC has recently clarified the first-year deadlines for Economic Substance Return (ESR) filings are as outlined below. Entities Tax Resident in another […]
BVI | Economic substance legislation
BVI economic substance legislation is the topic you should know |The British Virgin Islands (BVI) passed economic substance legislation requiring legal entities performing relevant activities to demonstrate adequate economic substance within the BVI.
Barbados Economic substance requirements
Barbados economic substance | Barbados enacted the Companies (Economic Substance) Act, 2019-43 (CES Act) on November 27, 2019. This law was enacted in response to the requirements of the Organization for Economic Cooperation and Development (OECD) and the European Union (EU) to prevent tax avoidance. A resident company is required to file an Economic Substance […]
Bahamas | Economic substance report filing extension
Bahamas economic substance | The Bahamas Ministry of Finance has granted an extension on the deadline to file the 2019 economic substance report (from December 31st, 2020) to January 31st, 2021 for entities incorporated prior to January 1st, 2020, and with fiscal year-end December 31st, 2019. Bahamas | economic substance report filing extension What needs to be […]
Panama | Private and unique registry system for final beneficiaries of legal entities
Company registration in Panama | Law No. 129, which deals with the “Private and unique system of company registration in Panama of final beneficiaries of legal entities” Was approved in Panama on March 17, 2020, and became law on March 20, 2020. The objective of this new Law is that every lawyer or law firm […]
