December 6, 2019

New economic substance regimes in the BVI, Cayman, Guernsey and Jersey receive OECD support

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From Mourant 31 July 2019 The Organisation for Economic Co-operation and Development (OECD), has concluded a review of recent economic substance changes to the tax regimes and legislation in each of our jurisdictions of the BVI, Cayman, Guernsey and Jersey and has confirmed that the domestic legal frameworks in each jurisdiction are in line with […]

Why some startups are choosing to incorporate in the Cayman Islands

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By Jonathan Prezman From SEEDLEGALS In addition to being a great destination for beautiful beaches, the Cayman Islands are also a global financial centre (the fifth largest banking sector in the world), with a number of major banks, leading global financial institutions, accountancy practices and offshore law firms.  Most interestingly perhaps is the huge number […]

Anthony Travers: Letter to the Washington Times – Cayman initiative is warfare

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By Anthony Travers From The Washington Times Recently, Pascal Saint-Amans, a representative of the Organization for Economic Cooperation and Development(OECD), was in Cayman to explain the OECD position with respect to the proposed European Union and OECD“black list” of the Cayman Islands. I am not sorry that I missed his visit, as the true position of the OECD cannot be explained politely. As Richard […]

Cayman Finance responds to Netherlands blacklisting

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GEORGE TOWN, Cayman Islands – Cayman Finance finds as unusual a recent decision by the Kingdom of the Netherlands to break from other European Union member states to “blacklist” 21 jurisdictions, including the Cayman Islands, based simply on having a stated corporate tax rate that the Netherlands has subjectively determined is too low. As noted […]

OECD Tax Policy representatives visit Cayman Islands

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High-ranking representatives from the OECD Centre for Tax Policy and Administration visited the Cayman Islands on 3 and 4 January. The centre’s Director, Pascal Saint-Amans; and its Head of Unit for Harmful Tax Practices, Melissa Dejong, met with Cabinet and caucus members; local financial services and commerce regulators; and private-sector financial services and commerce representatives. […]

Cayman Islands Government statement on The Netherlands blacklisting

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From The Office of the Premier The Cayman Islands Government regrets that the Kingdom of The Netherlands has chosen to break from other EU Member States to pursue a “blacklist” of 21 jurisdictions, including the Cayman Islands, based solely on the criteria of having a lower corporate tax rate than any EU Member State. This […]

Cayman Finance statement on the ‘Cayman Islands Economic Substance Bill’

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6 December 2018 The Cayman Islands Government today released the draft International Tax-Co-operation (Economic Substance) Bill, 2018 “a law to provide for an economic substance test to be satisfied by certain entities; and for incidental and connected purposes” (the “Bill”). The draft Bill is scheduled for debate in the Legislative Assembly later this month, and […]

Sir Ronald Sanders: Coping with the OECD reality

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By Sir Ronald Sanders Barbados Today Demands of the rich man’s club, the Organisation for Economic Cooperation and Development (OECD), have once again created disarray in the Caribbean. It is a disarray to which Caribbean countries have contributed by their lack of a common and strong political response to the many impositions by the OECD […]

Barbados: Biz tax cut ‘will hike taxes on people’ – UPP

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By Marlon Madden From Barbados Today Brace for an increase in taxes in light of Government’s decision to lower the domestic corporation tax rate, level with international business companies, the United Progressive Party (UPP) is warning Barbadians. In a statement issued by the UPP’s Public Relations Officer Wayne Griffith, the minority political party, which is […]

Bahamas placed on UK’s money laundering watchlist

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By: Pedro Gonçalves From International Investment The UK has added the Bahamas to its money laundering watchlist, with the HM Treasury now requiring firms to put special procedures in place when dealing with Bahamian resident entities and clients. The British government’s decision follows the recommendations of the international Financial Action Task Force. FATF rated the […]