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New laws to shake up Cayman's offshore sector
David Marchant
Posted: Sunday, December 9, 2018
Joined: 9/13/2007
Posts: 1278

Cayman News Service: Government has unveiled three new bills that will result in fundamental changes to the way some exempted companies do business in the Cayman Islands. Just weeks before the European Union’s deadline for offshore financial centres to address requirements over what it sees as unfair tax practices in order to dodge the latest black-list, Financial Services Minister Tara Rivers has rolled out the International Tax Co-operation (Economic Substance) Bill as well as changes to existing company laws. All three laws will need to be debated and passed before the end of the year, creating a serious shake-up in the offshore sector.

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