The Cayman Islands government has accused The Netherlands of including the British territory on its separate blacklist as a way of diverting criticisms of its own tax practices by attacking legitimate tax regimes.
Officials there said it was “unjustified” and “wholly lacking in fairness and credibility” to place Cayman on the list of 21 jurisdictions. Cayman found itself on the latest blacklist coming from a European country last month and the local government has said the only reason appears to be because the corporate tax rate here is lower than any EU state.
The move is also fueling concern that constant appeasement by the Cayman government of onshore countries is not working.
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