Cayman Finance Statement on G7 Global Minimum Tax Announcement
Cayman Finance issued the following statement by CEO Jude Scott following the announcement by G7 Finance Ministers that they have reached agreement on a global minimum corporate tax rate:
“The Cayman Islands is a tax neutral jurisdiction and our financial services industry is the world’s leader in international investment funds, which are internationally recognised as tax neutral. Cayman achieves tax neutrality in the simplest and most cost-effective way possible: it does not add another layer of tax on top of that is imposed by other jurisdictions. This enables our financial services industry to do what it does best, facilitating investment throughout the world, thereby driving global economic growth and prosperity.
Our industry will continue to play this important role, much needed during this time of recovery from a global pandemic, following any implementation of a global minimum tax rate for multinational enterprises.
Our tax neutral regime recognises the importance of taxing the right people, at the right place, at the right time. Indeed, Cayman’s tax information-sharing commitments enable more effective tax collection by other jurisdictions.
Taken as a whole, Cayman’s tax neutrality and international commitments protect against tax evasion, aggressive tax avoidance, unfair tax competition and any tax harm to other jurisdictions. That’s a record we are proud of and will continue to advocate for in international standard-setting efforts.”
About Cayman Finance:
Cayman Finance is the association of the financial services industry of the Cayman Islands, a premier global tax neutral financial hub efficiently connecting law abiding users and providers of investment capital and financing around the world.
Cayman Finance represents first rate service providers within investment funds and asset management, banking, insurance, reinsurance, capital markets, and trusts sectors and world class fiduciary, legal, and public accounting service providers. Additionally, Cayman Finance represents 15 industry associations.
Learn more at: www.caymanfinance.ky
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210608005327/en/
Contact information
Cayman Finance:
Ben Meade, Communication & Public Relations Manager
ben.meade@caymanfinance.ky | (345) 769-6203/924-0652
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Distrupol Acquires Lautrup Chemicals16.6.2021 13:36:00 EEST | Press release
Distrupol, a leading European distributor of thermoplastics and elastomers to the polymer processing industry and an affiliate of GPD Companies, Inc. (“GPD”), today announced that it has acquired Lautrup Chemicals A/S (“Lautrup Chemicals” or the “Company”). Terms of the transaction were not disclosed. Founded in 1982 by Chief Executive Officer and President Hans Lautrup, Lautrup Chemicals is the leading distributor of polymers in Scandinavia. The Company provides a broad portfolio of high-quality polymer products from premier suppliers to a diverse client base across the Nordic region as well as Eastern and Southern Europe. Headquartered in Copenhagen, Denmark, Lautrup Chemicals has a highly qualified team and network of strategically located distribution warehouses throughout the continent, designed to provide safe and efficient product delivery. “Over nearly 40 years, Lautrup Chemicals has established an incredible reputation for providing exceptional service, an expansive product po
The EUROGLIDER Autonomous Electric Glider Project Takes Off16.6.2021 12:22:00 EEST | Press release
The result of an innovative partnership involving the European Association for the Development of Gliding (AEDEVV), Dassault Aviation and the engineering schools of the ISAE Group, the EUROGLIDER project aims to develop an electrically powered two-seater glider for training, release and practice. At the crossroads of several technological challenges, the project is currently in the experimental test phase and will shortly begin preparations for its industrial phase. The ambition of this glider is to be able to carry out complete instructional flights autonomously without having to wait for favorable aerological conditions and while preserving the environment. The EUROGLIDER project attempts to satisfy the requests of the European gliding training centers. Because of a long waiting period, nearly 2/3 of the new registrants give up before their first "solo" flight. Thanks to its electric propulsion, the EUROGLIDER will be able to link several training flights of more than 40 minutes in a
Guidewire Wins Three XCelent Awards for Claims in EMEA16.6.2021 12:00:00 EEST | Press release
Guidewire Software, Inc. (NYSE: GWRE), the platform general insurers trust to engage, innovate, and grow efficiently, today announced that ClaimCenter has been named a winner of three awards in Celent’s P&C Claims Systems Vendors in EMEA, 2021 Edition. ClaimCenter was recognised as the top solution amongst the 20 core claims solutions evaluated, in the Breadth of Functionality, Customer Base, and Depth of Customer Service categories. An extract from the report can be read here. "The key story with the release of Aspen is the step change in how InsuranceSuite will be delivered to customers. In addition to the cloud investment and the push towards Guidewire Cloud services, there is the increased cadence of releases - perhaps the greatest change to ClaimCenter in its lifetime," said Craig Beattie, senior analyst, Celent, and report author. "Overall, ClaimCenter remains the strongest performing claims system in the European market." "We are honoured to receive this recognition from Celent,
Procuritas Creates New IT Services Platform in Finland16.6.2021 11:00:00 EEST | Press release
Procuritas Capital Investors VI (“Procuritas”) today announces the launch of Frendy, a new IT services platform based in Finland. The new company has been created through the acquisition of twelve IT services businesses across the country. After the transaction, Procuritas will become the majority shareholder, with the current entrepreneurial teams continuing in the day-to-day management of their local businesses with significant minority ownership of the wider company. Frendy will deliver IT services for SME companies in Finland, a target market of more than €1 billion per annum. At inception, the company will have 160 employees in 16 locations across Finland and will be headquartered in Helsinki, with revenues in excess of €33 million. Jussi Holopainen, Investment Manager at Procuritas, commented, “We are delighted to have completed the formation of Frendy. It is a really exciting opportunity for Procuritas to create a new company in this sizeable fragmented market currently serving
BehavioSec Granted U.S. Patents for Mobile Authentication and Social Engineering Detection16.6.2021 10:00:00 EEST | Press release
BehavioSec, the industry pioneer and technology leader for behavioral biometrics and continuous authentication, today announced the successful grant of two additional U.S. patents for its innovative method of verifying user identity and detecting fraud. Since its 2008 founding, BehavioSec has successfully been granted 24 U.S. patents, demonstrating the company’s continual commitment to the innovation and development of behavioral biometrics technology. With this new addition to their patent portfolio, BehavioSec technology can better protect digital identities and consumers on mobile devices from increasingly sophisticated, social engineering attacks – helping stop fraud before the damage is done. Today, BehavioSec already protects over 180 million people and 20 billion annual transactions across the globe. But as mobile devices continue to increase as a means of conducting financial transactions and accessing account information, consumers and institutions are often trading security a
Amit Roy Appointed to Spearhead Newly Launched Global Phosphorus Institute16.6.2021 10:00:00 EEST | Press release
The newly launched Global Phosphorus Institute (GPI) announced today the appointment of Dr. Amit Roy as Executive Director to develop and lead the Institute. His initial focus will be creating the Consortium for cutting-edge phosphorus research projects, building global coalitions, and establishing research hubs around the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210616005021/en/ Amit Roy - Executive Director of the GPI (Photo: AETOSWire) “We are pleased that Amit joins GPI to direct this new global initiative,” said Hicham El Habti, the President of Mohammed VI Polytechnic University, Morocco (UM6P) and President of the GPI. “His vast experience combined with his enormous breadth of knowledge, research work and experience in managing the International Fertilizer Development Center are valuable assets to GPI. I am confident that his qualifications will make him succeed in building out this Institute” Amit Roy ha
Brains Bioceutical Corp. Completes a USD $31.9 Million Capital Raise with Lead Investor DSM Venturing16.6.2021 09:00:00 EEST | Press release
Brains Bioceutical Corp. (“Brains” or the “Company”) is pleased to announce the completion of a USD $31.9 million capital raise with DSM Venturing and existing Brains shareholders. DSM Venturing, who acted as lead investor in this round, is the corporate venture arm of Royal DSM (“DSM”), a global, purpose led science-based company active in health, nutrition and sustainable living. This landmark investment and strategic transaction solidifies Brains’ position as one of the leading pharmaceutical companies in the cannabinoid (CBD) sector. Del Morgan & Co. acted as Brains’ financial agent in respect to the capital raise. “The completion of the capital raise marks an exciting milestone for the Brains’ team. To have the confidence of DSM in this next round solidifies Brains strategic position within the pharmaceutical industry,” said Brains' CEO & Chairman Rick Brar. “The growing demand for isolated CBD Active Pharmaceutical Ingredients (API’s) within the pharmaceutical and nutraceutical i
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom