Tag: Council of the European Union
Brexit chaos rolls on, MPs to vote on ‘no deal’ option
(CNS): Just over two weeks before the United Kingdom is scheduled to leave the European Union after more than four decades, the departure remains in complete chaos after Prime Minister Theresa May’s proposed deal was resoundingly beaten in the House of Commons Tuesday. On Wednesday members of parliament began debating the next proposed vote on […]
CIG: Dutch blacklisting unjustified diversion tactic
(CNS): Government has accused The Netherlands of including the Cayman Islands on its separate blacklist as a way of diverting criticisms of its own tax practices by attacking legitimate tax regimes. Officials here said it was “unjustified” and “wholly lacking in fairness and credibility” to place Cayman on the list of 21 jurisdictions. Cayman found itself […]
EU issue remains ‘fluid’ as deadline approaches
(CNS): Financial Services Minister Tara Rivers described the situation between the Cayman Islands and the European Union over the looming threat of blacklisting at the end of this year as “fluid” following meetings in Brussels last month. The Cayman Islands avoided the latest offshore finance list in 2017 regarding the tax regime here but was […]
CIG to meet EU and OECD on ‘economic substance’ issue
(CNS): Officials from the financial services ministry have confirmed that Cayman has been invited to a meeting with the European Union and the OECD, along with five other jurisdictions, on the latest European grey-list. The ministry said the informal voluntary meeting was to discuss the definition of economic substance in the financial services sector here, which […]
EU to outline next step in letter to Cayman
(CNS): The Cayman Islands has just twelve months to address the issues that caused the EU to include this jurisdiction among the 47 on its ‘grey-list’, after it managed to avoid being placed on the black-list of countries that European leaders regard as uncooperative when it comes to financial and tax transparency. According to documents […]
Cayman among jurisdictions on EU ‘grey-list’
(CNS): The Cayman Islands has dodged the European Union Council’s black-list of 17 uncooperative nations after the much-anticipated tax list was published Tuesday. However, this jurisdiction and more than 40 other countries are on a ‘grey-list’ of countries that have agreed to take steps toward “abolishing harmful tax practices”. Cayman, Bermuda, Guernsey, Isle of Man, […]
