Cayman Islands Next to Impose Economic Substance Laws

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Similar legislation changes are being enacted throughout BVI and Bermuda, and most other British Overseas Territories at the moment regarding the enforcement of economic substance. The Cayman Islands is no different, and has become the third Crown Dependency to propose legislation in order to meet the EU Code of Conduct Group on Business Taxation’s standards. The International Tax Co-operation for economic substance Bill 2018 has been published in advance of an accelerated gathering of the Cayman Legislative Assembly.