Question
Consider the following statements: 1. Cayman
Islands recent exit from the FATF grey list 2. Cayman Islands is a French Overseas Territory located in the Western Caribbean Sea 3. Cayman Islands considered a tax haven because the Caymans do not impose a corporate tax Which of the statements given above is/are correct?Solution
Cayman Islands’ recent exit from the FATF grey list is expected to bolster global private equity funds looking to invest in non-banking financial companies (NBFCs) based in India The Cayman Islands is a British Overseas Territory located in the Western Caribbean Sea They are considered a tax haven because the Caymans do not impose a corporate tax, making it an ideal place for multinational corporations to base subsidiary entities to shield some or all of their incomes from taxation
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