IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: No inception date

Post-migration treatment

On 25th July 2012, Caymanian Premier McKeeva Bush has announced a plan to introduce a Community Enhancement Fee. This tax would be levied on foreign work permit holders earning more than CAY$20'000 a year (less than 50% of average income). The Community Enhancement Fee would be levied at a significant rate of 10% of total income. Hence, the tax would significantly affect the 22'000 expats living in the Cayman Islands. 
 
On 7th August 2012 McKeeva Bush has announced that the Community Enhancement Fee is "off the table and will not be implemented". 
 
 

AFFECTED COUNTRIES

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