Local business associations welcome the Cayman Islands’ steering clear of the European Union tax Blacklist.
The list was released on Tuesday (12 March.)
Both the Insurance Managers Association (IMAC) and the Chamber of Commerce said they are pleased that Cayman did not feature on the list.
IMAC chairman Erin Brosnihan said the Association will continue to work closely with stakeholders to ensure global standards are adhered to.
Meanwhile, Chamber President Chris Kirkconnell said Cayman has always struck the right balance between meeting truly global international standards while ensuring the jurisdiction remains attractive to legitimate international business.
Read the statements:
Chamber of Commerce welcomes exclusion from EU ‘Blacklist’
The Chamber of Commerce today said it welcomed news that the Cayman Islands was not included on the recent European Union’s (EU) revised list of non-cooperative tax jurisdictions, while noting that given the Cayman Islands history of commitment to cross border cooperation this result was expected.
“The Cayman Islands has always struck the right balance between meeting truly global international standards while ensuring that the jurisdiction remains attractive to legitimate international business,” said Chamber President, Mr. Chris Kirkconnell.
Mr. Kirkconnell said that various representatives of the Chamber have been working with the government as part of a number of industries working groups over the past months on the EU initiative. “The Chamber of Commerce remains committed to working closely with the public sector and other industry bodies to ensure that the jurisdiction maintains its success as a leading international financial services centre”, he added.
“Congratulations to all of the various industry association representatives and government officials on this result,” said Mr. Kirkconnell.