06 December 2017

EU confirms the Cayman Islands, Guernsey and Jersey as cooperative

The EU Code of Conduct Group on Business Taxation has confirmed the status of the Cayman Islands, Guernsey and Jersey as cooperative jurisdictions.

The assessment, which was approved by the European Council of Finance Ministers (ECOFIN) yesterday, followed an intensive year-long screening process by the Code Group. In total, 17 countries have been deemed uncooperative in tax matters by EU finance ministers.

The Cayman Islands, Guernsey and Jersey are on a list of 47 countries that will work with the Code Group throughout 2018 as part of their status as cooperative jurisdictions.

The British Virgin Islands, one of eight Caribbean jurisdictions to have suffered extensive hurricane damage earlier this year, has been given extra time to respond to the EU process.

Full statements are available from Cayman Finance, Guernsey Finance and Jersey Finance