Cayman Islands–MNE Tax

Americas

OECD unveils stage 2 peer review assessments under BEPS Action 14 regarding mutual agreement procedure (MAP) for Andorra, Bahamas, Bermuda, British Virgin Islands, Cayman Islands, Faroe Islands, Macau, Morocco and Tunisia: OECD→

April 14, 2022

Americas

Trinidad and Tobago: Court of Appeal quashes treaty shopping scheme

February 9, 2022

Allan Lanthier, a former advisor to the Canadian government, analyzes the recent treaty shopping decision of Trinidad and Tobago’s Court of Appeal – a decision that stands in stark contrast to the recent treaty shopping decision of the Supreme Court of Canada in the Alta Energy case.

Americas

Cayman official sees no big problem for territory in OECD tax deal, which will not affect Cayman’s ‘bread and butter’ investment funds but MNEs with minimal Cayman exposure: Michael Klein / Cayman Compass→

December 2, 2021

Americas

White House’s hopes of an international tax revenue windfall may be overblown

October 29, 2021

Alex M. Parker, Capitol Counsel LLC, discusses how, without the political support for raising tax rates, Democrats are looking to an overhaul of the international tax system to help pay for the USD 1.75 trillion spending package; but some recent estimates say . . .

Americas

European banks’ tax haven use persists but varies widely, study finds

September 7, 2021

Large European banks report an average of 20% of their profits in tax havens, but some report more than half of their profits in such jurisdictions while others report none, according to a September 6 report from the EU Tax Observatory . . .

Africa

Profit shifting persists as corporate tax rates drop 30% in 20 years, OECD study finds

July 29, 2021

The OECD’s annual “Corporate Tax Statistics,” released July 29, reports that the statutory corporate income tax rate in 111 reviewed jurisdictions declined from an average of 28.3% in 2000 to . . .

Americas

Switzerland rejects Biden’s tax haven claim: swissinfo.ch→

May 3, 2021

Americas

Bermuda leaders chafe at Biden’s tax haven label: Scott Neill / The Royal Gazette→

May 3, 2021

Americas

Tax havens begin sharing information about entities that earn income from IP, other mobile activities

March 31, 2021

Twelve tax haven countries, for the first time, provided information about the activities of some business entities located in their countries to the countries where the entities’ parents or beneficial owners are tax residents, the OCED today announced. Anguilla, the Bahamas . . .

Asia-Pacific

US multinationals tax payments halved, investment and revenues boosted following 2017 tax overhaul, JCT report finds

March 24, 2021

US MNEs paid substantially lower corporate taxes following the 2017 Tax Cut and Jobs Act, both domestically and globally, a March 19 report from the US congressional Joint Committee on Taxation concludes. . .

Americas

Cayman Islands amends country-by-country reporting guidance and schema

December 21, 2020

The Cayman Islands on December 17 issued amended country-by-country reporting . . .

Americas

Cayman Islands to propose changes to pending LLP law to improve its “commercial functionality” prior to the regime becoming operational: Cayman Finance→

October 16, 2020

Americas

Cayman Islands Premier welcomes island’s removal from EU tax blacklist: Ministry of Financial Services, Cayman Islands →

October 8, 2020

Africa

OECD reports assess cross-border tax dispute resolution in Andorra, Bahamas, Bermuda, BVI, Cayman Islands, Faroe Islands, Macau, Morocco, Tunisia

July 30, 2020

The OECD on July 27 published reports approved by a group of 135+ countries known as the “Inclusive Framework on BEPS” that assess . . .

Africa

Denmark denies coronavirus aid to companies registered in countries on EU list of noncooperative tax jurisdictions: Nikolaj Skydsgaard / Reuters→

April 21, 2020

Africa

EU blacklist: Cayman Islands added with other three jurisdictions

February 18, 2020

Davide Anghileri, a researcher at the University of Lausanne, writes that during today’s meeting, the EU Council added four countries to the EU list of non-cooperative jurisdictions for tax purposes and removed 16 countries from the gray list . . .

Americas

Cayman Islands to introduce public register of beneficial ownership: Cayman Islands→

October 11, 2019

American Samoa

Netherlands government publishes revised draft list of low tax jurisdictions

October 8, 2019

Jian-Cheng Ku and Rhys Bane of DLA Piper, Amsterdam, discuss the Dutch government’s October 7 release of a draft list of low tax jurisdictions which makes four changes from the previous list. . . .

Americas

Cayman Islands publishes FAQ’s on economic substance for tax purposes

August 21, 2019

he Cayman Islands has published a set of frequently asked questions detailing a law requiring that companies with . . .

BVI, Bermuda, Cayman top tax haven list; UAE, UK, France most aggressive in lowering other countries withholding tax via treaty: Tax Justice Network→

May 29, 2019

Americas

Tax laws of 12 low-tax countries including BVI, Bermuda, Cayman don’t harm other countries, 131-country group concludes

July 23, 2019

An OECD-led 131-country coalition, known as the “Inclusive Framework on BEPS,” has approved. . .

Americas

Cayman Island guidance released on economic substance

May 16, 2019

The Cayman Islands government on April 30 . . .

Africa

OECD seeks input on tax dispute resolution in Andorra, Anguilla, Bahamas, Bermuda, BVI, Cayman, Faroe Islands, Macau, Morocco, Tunisia

July 17, 2019

The OECD on July 5 requested taxpayer feedback on the tax treaty dispute . . .

Americas

Cayman Islands issues notice on country-by-country reporting for multinationals

February 9, 2018

The Cayman Island government on February 2 published an advisory for multinational corporations on country-by-country reporting in advance of the release of planned guidance on the topic. The government . . .

Africa

Cayman Islands lobbies EU and UK officials seeking exclusion from tax blacklist: Brent Fuller / Cayman Compass→

November 27, 2017

Americas

Isle of Man tax information exchange agreements with BVI, Cayman Islands, and Romania enter into force

September 20, 2016

The Isle of Man government announced this week that three tax information exchange agreements signed with other nations. . .

Americas

OECD tax officials visit Cayman after Dutch tax blacklisting, “One should first think about what a tax haven is, before putting that label on the Cayman Islands,” says Pascal Saint Amans: Cayman Islands Financial Services→

January 14, 2019

Prior coverage: MNE Tax

Americas

Russia weighs sanctions against UK for permitting tax evasion through Cayman Islands and BVI: Kenneth Rijock / Caribbean News Now→

March 30, 2016

See: Caribbean News Now.

Americas

Cayman Islands financial institutions to face new CRS reporting thresholds, self-cert requirements

June 12, 2018

Denise Hintzke and Douglas Scott of Deloitte Tax LLP discuss recent, significant changes made to the Cayman Islands common reporting standard (CRS) regime for financial institutions, including an expansion of the pool of persons subject to Cayman CRS reporting and a new process for entity self-certification . . .

Americas

US reaches deal with Cayman Islands to exchange country-by-country tax reports on multinationals

March 14, 2018

The US government has announced that it signed a competent authority agreement with the Cayman Islands to exchange country-by-country tax reports . . .

Americas

Cayman Islands minister to meet with EU officials about tax blacklist, planning public consultations on new laws requiring substance for tax residence: James Whittaker / Cayman Compass→

September 19, 2018

Americas

Cayman Islands issues guidance for financial institutions on common reporting standard obligations

April 20, 2017

The Cayman Islands Department for International Tax Cooperation on April 13 issued guidance for financial institutions on the common reporting . . .

Americas

Cayman Islands records highest number of registered companies ever: Markets Insider→

December 4, 2018

Switzerland consults on introducing automatic exchange of tax information with 22 countries

December 1, 2016

The Swiss government has today announced a consultation on commencing automatic exchange of information in tax matters with 22 countries, writes Davide Anghileri, a lecturer at the University of Lausanne . . .

American Samoa

Netherlands publishes tax ‘blacklist’ for CFC rules

January 8, 2019

Jian-Cheng Ku, Robin Theuns, and Rhys Bane of DLA Piper Nederland N.V., discuss the Dutch Ministry of Finance’s blacklist of low tax jurisdictions for controlled foreign company purposes. published December 28, 2018 . . .

Americas

Netherlands publishes 21-country tax blacklist, imposing CFC rules, withholding tax on interest and royalty payments, and refusing letter ruling requests: Government of the Netherlands →

January 2, 2019

More: Cayman Compass.

Americas

Cayman Islands, Belize to adopt BEPS international tax standards

April 13, 2017

The Cayman Islands and Belize have become members of the “Inclusive Framework on BEPS,” the OECD announced today. The inclusive framework is a group of countries that have pledged to put into place minimum standards aimed at preventing tax avoidance and improving . . .

Americas

Cayman Islands proposes economic substance tax rules for offshore business

December 12, 2018

The Cayman Islands has proposed new “economic substance” requirements for foreign businesses in an effort to stave off blacklisting by the European Union . . .

Americas

Cayman Islands lists reportable jurisdictions for CRS: KPMG→

April 5, 2017

Khaled Al Zaabi on Spanish government proposes digital services tax: “We are seeking assistance with Digital Assets and International Tax Consulting to help Abu Dhabi UAE Oil Company navigate the…” October 24 ,2024

Emma Hinson Sims on The Pillar One blueprint — the potential future of international taxation and transfer pricing: “HAPPY BIRTHDAY TO A VERY SMART, BEAUTIFUL, YOUNG LADY ON JANUARY 13TH.” January 6 ,2024

David Valdez on US Tax Court resolves Whirlpool tax dispute involving Mexican maquiladora structure: “Greetings Whirlpool Mexico, I’m trying to contact someone involved with the decision making for transportation from all of your Mexican…” October 20 ,2023

Jose Dominguez on The new US international tax rules: what you need to know about GILTI, FDII, BEAT etc.: “Very informative article. Question. Do you have a software to compute these US International Calcs to make them in house?” April 12 ,2023

Ciro César Soriano de Oliveira on Danish High Court rules on beneficial ownership of dividends for tax purposes: “Dear Ms Susi, This article is immensely clarifying. I’d like to know whether Danish Supreme Court has already granted its…” March 24 ,2023

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