Each BVI entity is required to review and make necessary reporting to the International Tax Authority of whether or not it is carrying on relevant activities under the Economic Substance (Companies and Limited Partnership) Act 2018.
Tricor is able to assist entities in determining how to comply with the economic substance requirements and reporting obligations as set out in the Economic Substance (Companies and Limited Partnership) Act 2018 (the “Act”). We offer the following solutions to accommodate for your different needs:
Services | Description | Deliverables | |
In-scope or Out-of-scope Classification and Documentation | To classify whether the companies are undertaking relevant activity / activities on an entity-by-entity basis. |
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Establishing Economic Substance | To assist (for entities that are in-scope) in substantiating economic substance under the Act. |
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Annual Reporting | To advise on the information/ documents required for fulfilling the annual reporting requirements. |
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Others Alternatives | To recommend other corporate actions required to comply with the Act. | Assist the entity to carry out the following corporate actions:
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Please contact our Tricor executives who are ready and available to assist your legal entities to determine if a legal entity has to comply with the Act, how to meet the compliance requirements under the Act, and/or corporate actions required to be taken to comply with the Act requirements.
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