To print this article, all you need is to be registered or login on Mondaq.com.
Unless the company has elected to be treated as exempt, any company which is resident in the Island is chargeable to income tax on all of its income wherever arising, whether or not remitted to the Island. A company which, although incorporated and resident outside Jersey, carries on business in the Island through a branch or other established place of business is liable to Jersey income tax only on profits arising or accruing within the Island.
A company is regarded as resident in Jersey if it is incorporated or if it is managed and controlled in the Island and has not been granted exempt status. For these purposes it is only a test of "management and control" which is relevant in Jersey and not control by shareholders or loan creditors.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
For further information contact Jonathan G. Hooley on Tel (indirect line): + 44 (0) 1481 721000, Tel (direct line): +44 (0) 1481 719544, Fax: +44 (0) 1481 722373.
If you are a beneficiary of a non-resident trust (NRT) or contribute property to one, you could find yourself in hot water with the Canada Revenue Agency (CRA).
In this article Ray Davern analyses the decision of Bannister J, at first instance, and the Court of Appeal of the Eastern Caribbean Supreme Court, on appeal, in the matter of The New Huerto Trust, ex p. Royal Fiduciary Group Limited.
Dubai has emerged as a crucial hub for the growing virtual assets industry. It provides attractive tax incentives, a progressive regulatory framework and unique opportunities for growth and development.
FREE News Alerts
Sign Up for our free News Alerts - All the latest articles on your chosen topics condensed into a free bi-weekly email.