If you were wondering what the Cayman Islands was making such a fuss about in local media, here are the twenty one low-tax jurisdictions named this week by the Kingdom of the Netherlands. Any company conducting business in these jurisdictions, which all have an effective tax rate of below nine (9%) per cent, are subject to specific anti-avoidance actions, to prevent transfer of profit schemes.
ANGUILLA
THE BAHAMAS
BERMUDA
BELIZE
THE BRITISH VIRGIN ISLANDS
GUERNSEY
THE ISLE OF MAN
JERSEY
THE CAYMAN ISLANDS
KUWAIT
QATAR
SAUDI ARABIA
THE TURNS & CAICOS ISLANDS
VANUATU
THE UNITED ARAB EMIRATES
AMERICAN SAMOA
SAMOA
TRINIDADE & TOBAGO
US VIRGIN ISLANDS
A withholding tax, equal to the Netherlands customary corporate tax rate, of 25%, will be imposed on payments from those jurisdictions, which will subsequently shrink to 20.5% . Compliance officers should factor this Blacklist into their 2019 assessment of Country Risk for these jurisdictions.
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