Estera launches economic substance service

Posted: 09/08/2019

Eric Anliker_Estera_aug19Estera has launched an interactive economic substance client portal and client guide to help clients get to grips with the new economic substance regulation.

The legislation, which came into effect in the Crown Dependencies and British Overseas Territories on 1 January, requires relevant entities with tax residence or incorporation and income in affected jurisdictions to evidence adequate local resources, facilities and control over certain income-generating activities.

The portal contains a set of questions designed to help clients understand the impact of the legislation. Based on their answers, Estera will give a preliminary understanding of substance obligations (if relevant), provide template resolutions and outline the next steps for the client, including opportunities to add substance where needed. 

Estera Group Counsel Eric Anliker (pictured) said: “Our portal and guide will help clients understand if their entity is in scope of the new law and if it meets the substance requirements. In case of substance gaps, we are offering solutions to test and enhance substance compliance so that clients meet the requirements. We will also help prepare and submit economic substance reporting.”

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