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Financial Services Ministry rejects Corporate Tax Haven Index ranking

The Financial Services Ministry dismisses Cayman’s inclusion on the Corporate Tax Haven Index.
The index rates countries on how helpful they are to companies trying to avoid taxes.
Cayman was ranked number three.

The index was published by the Tax Justice Network, a UK based independent tax evasion group.
In a statement to Cayman 27, the Ministry said, it “is aware of the report and the resulting press coverage. The Ministry realises there are some unfavorable sentiments directed at Cayman’s position as a tax-neutral jurisdiction. While it is unfortunate that our tax neutrality is often misunderstood and politicised overseas, the Cayman Islands adheres to international standards against tax evasion and other financial crimes. It should also be noted that Cayman maintains a high level of international tax cooperation, which has been recognised and acknowledged by foreign competent authorities and global bodies such as the OECD (Organisation of Economic Cooperation and Development.”

About the author

Reshma Ragoonath

Reshma Ragoonath

Reshma Ragoonath is a Trinidadian journalist with 18 years media experience with a strong background in print with her most recent stint at The Cayman Reporter. She has a BA in Mass Communications, as well as, an Associate degree in Journalism and Public Relations.

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