Закон страна: Джерси; язык закона: Английский

Taxation (Companies – Economic Substance) (Jersey) Law 201

Закон о налогообложении (Компании - Экономическое присутствие) на Джерси №201

Оригинал закона

Аннотация

A LAW to make provision for imposing an economic substance test on Jersey resident companies and for determining whether the test is met by assessing the extent of certain relevant activities carried out by such companies and taking appropriate enforcement action.
 
 

Adopted by the States 6th December 2018
Sanctioned by Order of Her Majesty in Council [date to be inserted]
Registered by the Royal Court [date to be inserted]
 
 
THE STATES, subject to the sanction of Her Most Excellent Majesty in Council, have adopted the following Law –
 
  1. Interpretation In this Law – 
  • “1961 Law” means the Income Tax (Jersey) Law 19611 ;
  • “authorized person” means the Comptroller or any person authorized by the Comptroller to perform functions under Article 17;
  • “banking business” means, in respect of a resident company, a deposit taking business which the resident company must be registered to carry on under Article 9 of the Banking Business (Jersey) Law 19912 ;
  • “business document” means any document –
    • (a) that relates to the carrying on of a business, trade, profession or vocation by any person; and
    • (b) that forms part of any record under any enactment;
  • “business premises” means premises used in connection with the carrying on of a business, trade, profession or vocation;
  • “Commission” means a Commission of Appeal constituted under Article 13(3);
  • “competent authority”, in respect of a country or territory other than Jersey, means the authority designated in or for the purposes of an Article 1 Taxation (Companies – Economic Substance) (Jersey) Law 201- Page - 4 approved agreement or an approved obligation within the meaning of the Taxation (Implementation) (Jersey) Law 20043 ;
  • “Comptroller” means the Comptroller of Taxes;
  • “connected person” in relation to a resident company, has the same meaning as in Article 3A of the Income Tax (Jersey) Law 19614 ;
  • “deposit-taking business” has the meaning in Article 3 of the Banking Business (Jersey) Law 19915 ;
  • “distribution and service centre business” means the business of either or both of the following –
    • (a) purchasing from foreign connected persons –
      • (i) component parts or materials for goods, or
      • (ii) goods ready for sale; and reselling such component parts, materials or goods;
    • (b) providing services to foreign connected persons in connection with the business,
  • but does not include any activity included in any other relevant activity except holding company business;
  • “finance and leasing business” has the meaning given by Article 2;
  • “financial period” has the same meaning as in Article 4A of the 1961 Law;
  • “foreign connected person” means a person connected with a resident company, such person not being resident or regarded as resident in Jersey;
  • “fund management business” means –
    • (a) the business of being a functionary who –
      • (i) is required to hold a permit under the Collective Investment Funds (Jersey) Law 19886 to carry on that business, and
      • (ii) is a manager or an investment manager as referred to in Group 2 in Part 2 of the Schedule to that Law; or
    • (b) the business of a person who is required to be registered under the Financial Services (Jersey) Law 19987 to carry on fund services business and is any of the following –
      • (i) a manager or investment manager as referred to in Article 2(10)(a) of that Law,
      • (ii) a trustee as referred to in Article 2(10)(c) of that Law, except where a separate manager has been appointed to the unclassified fund or unregulated fund,
      • (iii) a member of a partnership as referred to in Article 2(10)(d) of that Law, except where a separate manager has been appointed to the unclassified fund or unregulated fund;
    • (c) a person carrying on a business by virtue of which the activities of a company are excluded from fund services business under the Financial Services (Jersey) Law 1998 by virtue of Article 3 and paragraph 21 of Schedule 2 to that Law; Taxation (Companies – Economic Substance) (Jersey) Law 201- Article 1 Page - 5
    • (d) the business of being a person who is the equivalent of a person referred to in paragraph (b) or (c) in respect of a fund which would be a scheme falling within the definition of “collective investment fund” in Article 3 of the Collective Investment Funds (Jersey) Law 19888 except that the offer of units in the scheme or arrangement is not an offer to the public within the meaning of that Article;
  • “headquarters business” means the business of providing any of the following services to one or more foreign connected persons of the resident company –
    • (a) the provision of senior management;
    • (b) the assumption or control of material risk for activities carried out by, or assets owned by, any of those connected persons;
    • (c) the provision of substantive advice in connection with the assumption or control of risk referred to in paragraph (b),
  • but does not include anything falling within the definition of financing and leasing business, intellectual property holding business, insurance business, or banking business;
  • “high risk IP company” is a company which carries on an intellectual property holding business and –
    • (a) the company –
      • (i) did not create the intellectual property in an intellectual property asset which it holds for the purposes of its business,
        • (ii) acquired the intellectual property asset – (A) from a connected person, or
        • (B) in consideration for funding research and development by another person situated in a country or territory other than Jersey; and
      • (iii) licences the intellectual property asset to one or more connected persons or otherwise generates income from the asset in consequence of activities (such as facilitating sale agreements) performed by foreign connected persons; or
    • (b) the company does not carry out research and development, branding or distribution as part of its Jersey core-income generating activities;
  • “holding body” has the same meaning as in Article 2 of the Companies (Jersey) Law 19919 ;
  • “holding company” means a resident company which –
    • (a) is a holding body;
    • (b) has as its primary function the acquisition and holding of shares or equitable interests in other companies; and
    • (c) does not carry on any commercial activity; “holding company business” means the business of being a holding company;
 
 

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economic substance Джерси законодательство

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