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Economic Substance in the Cayman Islands

On 1 January 2019, the Cayman Islands introduced The International Tax Cooperation (Economic Substance) Act, 2018 and on 12 February 2020 The International Tax Co-operation (Economic Substance) (Amendment) Act, 2020 came into force together with The International Tax Co-operation (Economic Substance) (Amendment of Schedule) Regulations, 2020 (altogether, the “Law”). The Law has been issued in response to the Cayman Islands’ commitment to the global initiative to combat base erosion and profit shifting.

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View profile for Jonathan McLeanJonathan McLean
Partner and Head of Banking & Regulatory
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Senior Associate