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ARTICLE · 27 FEBRUARY 2020

Cayman Islands EU Blacklisting Briefing

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The Cayman Islands has been added to the EU's list of non-cooperative jurisdictions for tax purposes following the EU Member States finance ministers' meeting (EcoFin) on 18 February 2020.

Cayman IslandsFinance and Banking
Colin MacKay
Colin MacKay
Deanna Derrick
Deanna Derrick
Lesley Connolly
Lesley Connolly

The Cayman Islands has been added to the EU’s list of non-cooperative jurisdictions for tax purposes following the EU Member States finance ministers’ meeting (EcoFin) on 18 February 2020. In acknowledging the decision, the Cayman Islands government highlighted its long history of cooperation with the EU on issues of tax cooperation and reaffirmed its commitment to constructive engagement with the EU to ensure that Cayman is removed from the list at EcoFin’s next scheduled meeting in October 2020. While the immediate effect of the listing is to exclude the Cayman Islands government from accessing EU institutions such as the European Fund for Sustainable Development and the European Fund for Strategic Investments, the impact on Cayman domiciled collective investment vehicles and funds is expected to be limited.

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