Cayman Islands Government Statement on G7 Global Tax Rate Announcement

08 June 2021, 05:30 AM

Politics & Government

The Cayman Islands Government is aware of the G7 announcement on 5 June 2021 regarding a global minimum corporate tax rate.

The G7 announcement, which would predominately affect multinational enterprises, aligns with the Cayman Islands' overall position that taxes should be paid where they are rightfully owed.

While the Cayman Islands’ primary business is investment funds, which are tax neutral under international tax rules, we continue to support international tax compliance by adhering to international tax standards.