Removal of the Cayman Islands from the EU List of Non-Cooperative Jurisdictions for Tax Purposes
On 6 October 2020 the Cayman Islands was removed from the “EU Blacklist”, following its addition to the list in February this year.
The Cayman Islands Government has continued to work closely alongside EU officials to address their concerns and implement enhancements to the regulatory framework, resulting in the positive conclusion of being removed from the EU Blacklist at the earliest opportunity.
The removal of Cayman from the list evidences that the EU recognises the Cayman Islands as a cooperative jurisdiction in relation to transparency and fair taxation rules and validates Cayman’s commitment to a responsible policy of tax neutrality.
This is further substantiated by the OECD’s Forum on Harmful Tax Practices assessment that founds Cayman’s regime to be “not harmful,” the highest ranking possible, in July 2019.
If you have any questions, please feel free to contact a member of our team in Cayman.
Maxine Jones, Client Director or Daniel Hiron, Corporate Services Manager & Compliance Officer