Caymans Has Earned Its Removal From Blacklist, EU Says

Law360 (November 10, 2020, 12:12 PM EST) -- The Cayman Islands has kept its commitment to changing laws on investment funds that placed it on the European Union's list of uncooperative tax jurisdictions and deserves its removal from the list, according to an EU council document.

The document, published Monday, outlined the laws the Cayman Islands changed to allow it to be taken off the list on Oct. 6. Those include revising its rules on collective investment vehicles, or CIVs, to ensure that those investments have substance and aren't being used purely for tax planning.

The EU put the Caymans on the list in February because reforms the British...

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