Cayman Islands: Removal from EU list of non-cooperative jurisdictions

Cayman Islands: Removal from EU list

The Cayman Island on 6 October 2020 was removed from the EU “blacklist” of non-cooperative tax jurisdictions after the Cayman Islands adopted new reforms to its framework on collective investment funds in September 2020.

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Oman was also removed from the list, while Anguilla and Barbados were added. Read TaxNewsFlash


Background

The EU list of non-cooperative jurisdictions is part of its external strategy for taxation to promote tax good governance worldwide. The list comprises non-EU jurisdictions that either have not engaged in a productive dialogue with the EU on tax governance, or have failed to deliver on their commitments to implement reforms that will comply with a set of objectives under tax good governance criteria, which concerns tax transparency, fair taxation and implementation of international standards against tax base erosion and profit shifting.

Read an October 2020 report [PDF 71 KB] prepared by the KPMG member firm in the Cayman Islands

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