Cayman Finance says fully supports actions being taken by the Cayman Islands Government to constructively engage with European Union officials, with an aim to reverse an EU decision to include the jurisdiction on a list of non-cooperative jurisdictions for tax purposes.
Cayman Finance CEO Jude Scott According to Caribbean Media Corporation was quoted as saying by the Cayman Islands Government, that the recently introduced modernized legislation that enhanced the oversight of investment funds, was in response to an evolution in global regulations, primarily driven by the European Union and other global standard setting bodies.
He noted that as a premier global tax neutral financial hub, Cayman has adopted at least as many global standards for transparency as any G20 country – and more, when agreements specific to International Financial Centres (IFCs) and UK Overseas Territories are included.
The jurisdiction proactively shares tax information with more than 100 other governments under the Organisation for Economic Cooperation and Development (OECD) Common Reporting Standard. This assists those countries in the collection of taxes, regardless of what their unique tax laws are.
