Cayman Islands tax system: audit, reporting and optimization of taxation of Cayman Islands companies and individuals: VAT, income tax and capital gains

Basic taxes (briefly)

Personal tax No
Corporate tax (in detail) There is no corporation tax in Cayman.
Capital gains tax. Details There is no capital gains tax in Cayman.
VAT. Details There is no VAT in Cayman.
Other taxes No
Government fee
Stamp duty 7.5% (transfer of real property)

International tax agreement

United Kingdom
   
Australia, Canada, Denmark, Faroe Islands, Finland, France, Germany, Greece, Greenland, Iceland, Ireland, Netherlands, Netherlands Antilles, New Zealand, Norway, South Africa, Sweden, United States, Mexico


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Taxation of individuals

There is no personal income tax.

Income tax

No.

Capital gains tax

No.

CFC regulations

No.

Withholding tax on income

No.

VAT

No.

Social contributions

There are no social contributions. However, participation in authorised pension funds and health insurance is compulsory.

Contributions are paid by employers with partial reimbursement from employees.

Employees must contribute at least 5% of their remuneration to the pension insurance scheme.

Minimum health insurance contributions are financed equally by the employer and the employee.

Stamp duty

Stamp duty is payable on real estate transactions at a rate of 7.5%. The tax is also payable on transactions involving shares in real estate companies.

Stamp duty is payable on mortgages and some other transactions at a rate of 1% to 1.5%.

Double taxation treaties

The Cayman Islands have entered into various tax information exchange arrangements with 36 jurisdictions:

1 DTC: UK

19 TIEA: Australia, Canada, Denmark, Faeroe Islands, Finland, France, Germany, Greece, Greenland, Iceland, Ireland, Mexico, Netherlands, New Zealand, Norway, South Africa, Sweden, USA.

Foreign exchange controls

Generally, there are no restrictions on foreign exchange transactions.

    Taxes of Caymans

    Min. rate for corporate tax No
    Capital gains tax No
    VAT No
    Withholding tax No
    Exchange control No
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