EU blacklist disappoints Cayman Finance

Cayman Finance says it is disappointed the European Union has blacklisted the Cayman Islands as a tax haven. The European Commission published its list Wednesday, naming 30 countries it implies may have been non-compliant regarding good tax governance.

 Cayman’s financial services representative group says it’s not sure how the 11 European countries arrived to such a conclusion, as this jurisdiction has exchange of information treaties in place with nearly all of them.

Cayman Finance says, “We are confident that if these 11 EU countries transparently and objectively evaluate the Cayman Islands robust international tax cooperation regime against global standards, that the Cayman Islands will be promptly removed from this non-compliant list.”

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