ANNOUNCEMENT 25 Jul 2012In July 2012, the government of the Cayman Islands announced a change to the rules for resident foreign nationals.
NUMBER OF INTERVENTIONS
Initial announcement of budget (search for Community Enhancement Fee):
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".