On 18 February, the EU Council confirmed that the Cayman Islands had been added to the EU’s official list of non-cooperative jurisdictions for tax purposes, commonly referred to as the ‘EU blacklist’. This is a significant development, but, except in limited circumstances, in the short term it is not expected to give rise to any immediate adverse tax consequences. Any longer-term impact will depend both on (i) whether this turns out to be a temporary or more permanent status and (ii) investor perceptions, particularly for EU based investors.
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On 18 February, the EU Council confirmed that the Cayman Islands had been added to the EU’s official list of non-cooperative jurisdictions for tax purposes, commonly referred to as the ‘EU blacklist’. This is a significant development, but, except in limited circumstances, in the short term it is not expected to give rise to any immediate adverse tax consequences. Any longer-term impact will depend both on (i) whether this turns out to be a temporary or more permanent status and (ii) investor perceptions, particularly for EU based investors.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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