Cayman dodges EU tax list as Bermuda added

| 12/03/2019 | 31 Comments

Cayman News Service(CNS): The European Union has added ten more countries to its blacklist of what it considers to be tax havens and the Cayman Islands is not included. Following the passage of legislation at the end of last year to meet the demands of European leaders, the government had been confident that Cayman would avoid the latest list of what the EU deems non-cooperative jurisdictions in terms of international finance and tax issues, in particular.

The jurisdictions added to the blacklist are Bermuda, Aruba, Barbados, Belize, Dominica, Fiji, Marshall Islands, Oman, United Arab Emirates and Vanuatu, as they did not meet commitments made to the EU by the agreed deadline.

Check back to CNS for more on this story later.

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Category: Business, Financial Services

Comments (31)

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  1. Tobin Frost says:

    Yes the broke European Hypocrites now cry foul a victim of their own greedy and wicked colonial past ambitions gone awry. I guess you never believed that one day your slaves and servants would rise to become your financial rivals and masters. We feel your pain but see your strategy to once again rape and pillage in order finance you little European decrepit dynasties. bon appetit!!

  2. El Xavi says:

    This what happens when you empower former European colonialist with the belief that they are somehow still relevant or important. Its time to put this European menace in the dustbin of history…….. Our seamen and women risk and lost their lives to free them from tyranny. Ungrateful B@$#@&%$

  3. Pariahs of Hypocrisy says:

    Yet when the Saudis told them they would cut all their little greedy EU contracts with the kingdom they all swallowed their nasty little prostitute consciences and quickly remove from the list. Aaaah but you European colonialist hypocrites deserve each other eh???? its okay to create these bogus list but do absolutely nothing about the killing women and children in places like Yemen. A Red list should be drawn up for all those European pariah states who perpetuate conflicts around the world by siphoning other countries natural resources and selling them weapons to kill innocent women and children.

  4. Anonymous says:

    Next they should make a list of people who actually care…

  5. Anonymous says:

    This is what happens when you wear socks and shorts simultaneously.

  6. Anonymous says:

    I said it before and I will say it again. Why does the Eu expect places like the Cayman Islands and Bermuda to police their citizens. If they didn’t charge their people such an enormously high tax rate they would not try to find better options. Tell them to go fly a kite and mind their own business. They are all one big hot mess!

    • Chris Johnson says:

      An interesting and current topic. I rather expected some professional well constructed comments but merely saw 19 anonymous and not meaningful responses. A sign of the times I guess.

      • Anonymous says:

        Take your professional and constructive comments elsewhere. This is CNS baby!

      • Anonymous says:

        And what are your “professional and well constructed comments” on this topic?

      • Anonymous says:

        Mr. Johnson bo one is stopping you from making your “professional well constructed comments” you have been in the business for a long time so you should know. The rest of us are telling it as we see it. We still have freedom of speech on this 2×4 rock. So go ahead and inform us professionally.

        • Anonymous says:

          And you are who? At least Mr Johnson has the balls to put his name forward. U from rock city? From what I see the remarks on this subject are useless. Johnson does put things into perspective.

  7. Anonymous says:

    Bermuda companies have already indicated they will be leaving

  8. Anonymous says:

    1. These blacklists mean nothing. Just watch as zero businesses leave Bermuda. A lot of this is based in Brexit and negotiations the UK is making to sink BOTCs to make a deal

    2. Wish Cayman would publish its own blacklist of countries where seedy business is trying to enter Cayman to clean its dirty money or where people are trying to evade tax. Turnabout is fair play

    • Anonymous says:

      Are you kidding? Cayman is a tax haven otherwise why would so many firms base themselves here including Manchester United Football. Don’t get me wrong, I love tax havens and live in Cayman for that reason only.

      • Anonymous says:

        Cayman is the greatest tax haven of them all. We all know this fact in the financial services sector.

        • Fun bring bun says:

          Maybe it’s time for property tax for expats then. And feel free to use the scare tactic where all expats will leave and go elsewhere; good luck with your other options.

    • Anonymous says:

      The retail and institutional customers of European-based custodians, holding their cash and securities in a variety of global denominations, might disagree strongly with your “means nothing” assessment.

    • Anonymous says:

      Cayman Is. Is the hardest place to open an account, i just open account for my
      grand son and had to answer a million questions, he went to college in Florida and opened an account very easy with just few questions

  9. Anonymous says:

    Until U.S. is on the list it lacks integrity as a list of convenience and is no more than bullying for greater financial industry market share.

  10. Anonymous says:

    The EU is not going to stop until financial centres like the Cayman Islands are completely destroyed. There will be another black list in a few months and then another black list after that and then another black list after that. You get the point.

    • Anonymous says:

      Exactly! I wouldn’t get too excited by this! The EU dictators will just keep moving the goal posts!

    • Anonymous says:

      Truly get the spirit of what you’re saying, but our pants are already at our ankles! Short of public catalogues of minutes and/or financials for private companies, it’s difficult to imagine where further disproportionate goal post moves could possibly go, and why.

    • Anonymous says:

      Great if they do but also lets go after London, parts of USA and of course the multi nationals.

  11. Anonymous says:

    Good. Well done Cayman. As for Bermuda, cannot day I am surprised.

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