BVI investment funds not subject to economic substance rules

Pedro Gonçalves
clock • 2 min read

The British Virgin Islands International Tax Authority has said that investment funds are not subject to the economic substance requirements unless they carry on other relevant activities. The Economic Substance (Companies and Limited Partnership) Act 2018 has been enacted in the BVI and came into force on 1 January 2019. The jurisdiction's Tax Authority has now published a draft code setting out the effect of the new framework. The tax office interpretation is that the EU does not require investment funds to be subject to economic substance rules. This guidance confirms that an en...

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