How Economic Substance Left Guernsey Stronger

In recent years, economic substance has become a fundamental factor driving developments in global finance centres. The global Base Erosion and Profit Shifting (BEPS) movement, driven by the Organisation for Economic Cooperation and Development (OECD), was motivated by a desire to stop multinational corporations, particularly global technology firms, from artificially structuring their affairs to avoid corporate tax.

Guernsey Funds Industry Emerge…