September 28, 2022

Cayman Islands: Cayman Islands Economic Substance Requirements – Overview

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By Nick Rogers and David McIntyreOgier From Mondaq From 1 January 2019, new legislation came into effect in the Cayman Islands, requiring in-scope entities that carry on particular activities to have demonstrable economic substance in Cayman. The International Tax Co-operation (Economic Substance) Law (Law), 2018 was enacted after an extensive process of consultation with the EU Code […]

Cayman Island residents challenge tax information exchange with IRS

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From The Tax Times Two Cayman residents are challenging a decision by the Tax Information Authority to comply with a tax information exchange request by the U.S. Internal Revenue Service. Lee and Sheila Aronfeld are naturalized citizens of the Cayman Islands but remain taxpayers in the United States, where they are subject to a criminal […]