The Economic and Financial Affairs Council of the European Union, comprising the finance ministers of the 27 EU Member States, announced on 6 October 2020 that the Cayman Islands has been removed from its list of non-cooperative jurisdictions for tax purposes. The Council acted following recommendations of the EU Code of Conduct Group, noting that the adoption of reforms to the territory’s investment funds regime in 2020 had met requirements set down by the EU.
The delisting evidences the continued commitment of the Cayman Islands government to meet the highest evolving global standards on transparency and tax information sharing.
The Cayman Islands government, together with other industry stakeholders, have welcomed the EU Council’s decision. More information on various press releases can be accessed below:
The Cayman Islands’ government press release can be found here.
The AIMA press release can be found here.