The European Union's Economic and Financial Affairs Council (ECOFIN) has announced today that it has removed the Cayman Islands from its list of non-cooperative jurisdictions for tax purposes (the "EU Blacklist").
Commenting on the decision, Cayman Islands Managing Partner Nick Bullmore added: "This is clearly very welcome news. The Cayman Islands' Government has been actively engaging with the EU ever since their surprise decision to place the Cayman Islands on the EU Blacklist earlier this year. We were confident that the blacklisting would be temporary given the Cayman Islands' continuing commitment to meet all appropriate global tax, transparency and governance standards."
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.