Tag: EU black-list

Cayman faces long wait to get off EU blacklist

Cayman faces long wait to get off EU blacklist

| 18/02/2020 | 112 Comments

(CNS): As expected, following warnings last week the Cayman Islands was added to the European Union’s list of non-cooperative jurisdictions regarding tax issues on Tuesday. It seems the jurisdiction will now have to wait until October before it gets off this list, which it has apparently landed on due to the tardiness in passing a […]

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Cayman’s efforts to avoid blacklist fails

Cayman’s efforts to avoid blacklist fails

| 12/02/2020 | 177 Comments

(CNS): Despite passing a raft of laws in the Legislative Assembly to avoid being blacklisted by the European Union, it appears that the Cayman Islands will be added to the EU’s list of jurisdictions with lax standards for financial crime. The Financial Times has reported that while both Cayman and the British Virgin Islands were […]

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Cayman dodges tax list but pressure persists

Cayman dodges tax list but pressure persists

| 12/03/2019 | 13 Comments

(CNS): The Cayman Islands government has welcomed the news that this jurisdiction has avoided the latest European Union tax blacklist, but officials have indicated that the pressure is still on as the EU continues to express further concerns about economic substance requirements for collective investment vehicles (CIVs), otherwise known as funds, and one of the […]

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Cayman dodges EU tax list as Bermuda added

Cayman dodges EU tax list as Bermuda added

| 12/03/2019 | 31 Comments

(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 […]

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CIG still waiting on blacklist decision after EU trip

CIG still waiting on blacklist decision after EU trip

| 18/01/2019 | 8 Comments

(CNS): After around 13 meetings with various European Union leaders and technocrats, as well as officials from direct member states, the Cayman Islands delegation led by the premier is still waiting to hear whether this jurisdiction has “passed muster” to prevent any more blacklisting. Premier Alden McLaughlin, accompanied by Financial Services Minister Tara Rivers, Attorney […]

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Premier’s delegation begins Brussels meetings

Premier’s delegation begins Brussels meetings

| 14/01/2019 | 15 Comments

(CNS): Premier Alden McLaughlin and the Cayman delegation he is leading to Europe began discussions on Monday with staffers from various EU commissions in Brussels about the blacklisting threats. The delegation began by meeting David Boublil, a member of the Cabinet of Pierre Moscovici, the Commissioner for Economic and Financial Affairs, Taxation and Customs; Gints […]

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Industry rejects Dutch blacklist over low tax rate

Industry rejects Dutch blacklist over low tax rate

| 10/01/2019 | 15 Comments

(CNS): The decision by the Dutch government to publish its own subjective “blacklist”, which included the Cayman Islands because tax rates are lower than in the Netherlands, is unusual and ignores the facts, especially as Cayman has had a tax information exchange agreement (TIEA) in place with the Netherlands since 2009, according to the financial services industry […]

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Premier back on the road in offshore fight

Premier back on the road in offshore fight

| 09/01/2019 | 23 Comments

(CNS): Premier Alden McLaughlin left the Cayman Islands Wednesday, heading off on another UK-Euro-US trip to continue the work of keeping the jurisdiction from appearing on any more black-lists, as the fight to protect the financial sector here intensifies. McLaughlin, who has increasingly taken on the lead role in defending the offshore industry, despite having […]

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OECD reps appear to give thumbs up to Cayman

OECD reps appear to give thumbs up to Cayman

| 07/01/2019 | 12 Comments

(CNS): Government has revealed that two high-ranking representatives from the OECD Centre for Tax Policy and Administration were in the Cayman Islands last week, and they appear to have given the jurisdiction a thumbs up over its cooperation and new legislation regarding global tax issues. In a release from the financial services ministry, the centre’s […]

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CIG: Dutch blacklisting unjustified diversion tactic

CIG: Dutch blacklisting unjustified diversion tactic

| 07/01/2019 | 29 Comments

(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 […]

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Cayman lands on Dutch tax haven blacklist

Cayman lands on Dutch tax haven blacklist

| 31/12/2018 | 46 Comments

(CNS): As the Cayman Islands waits on confirmation that it has escaped blacklisting by the wider European Union, following the passage of new legislation just before Christmas, it has found itself on a new blacklist. Cayman is one of 21 jurisdictions on a list of low-tax jurisdictions released over the weekend by the Government of the […]

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