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Daily Tax Report: International

Cayman Islands to Go Public on Company Ownership (1)

Oct. 9, 2019, 2:27 PMUpdated: Oct. 9, 2019, 3:24 PM

The Cayman Islands government has committed to introducing a public register of company ownership, in line with global trends.

Creating such a register is part of the tax haven’s attempt to deal with pressure to make it more difficult for companies and individuals to use it for tax avoidance purposes, since it is home to around twice as many companies as individuals.

  • Alden McLaughlin, premier of the Cayman Islands, said in an Oct. 9 statement the government is working “in anticipation of public registers of beneficial ownership becoming the international standard.”
  • The U.K.'s introduction of a public beneficial...
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