Newsalert - EU Council removes Cayman Islands from EU tax black list
On 6th October 2020, the EU Council officially announced the exclusion of the Cayman Island from the EU list of non-cooperative jurisdictions for tax purposes (so called, “Black List”), after they adopted new reforms to their framework on collective investment funds in September 2020 (see the Report of the Code of Conduct Group of 28th September 2020).
The exclusion from the Black List certifies the compliance of the Cayman Islands’ jurisdiction with the “fair taxation” standards provided by EU Council (Conclusions no. 14166/16 of 08 November 2016, point no. 2.2).
See an analysis on the topic in the Alert by our Tax Department