CAYMAN ISLANDS: EU takes Cayman Islands off AML list

The Ministry of Financial Services in the Cayman Islands has announced that as of 7 February, the EU has officially removed the Cayman Islands from its list of high-risk third countries with anti-money laundering, countering the financing of terrorism and counter proliferation financing (AML/CFT/CPF) deficiencies.

The EU Commission removed the Cayman Islands from its AML list following the publication of its Delegated Act.

Cayman’s delisting from the EU AML list was in line with previous EU protocol, the Ministry pointed out.

30 April 2024

HONG KONG: Over 130 Family Offices To Start, Widen Operations, Says Hong Kong Government

The city is competing against Singapore, Dubai and other hubs to be a location for ultra-high net worth families and family offices. More than 130 family offices plan to set up or widen operations in

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11 October 2024

AFRICA: Kenya’s authority to explore AI and machine learning to detect tax evasion

The Kenya Revenue Authority (KRA) intends to use technologies such as Artificial Intelligence (AI) and Machine Learning to analyse massive amounts of data and detect patterns of tax evasion. According

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29 November 2024

LUXEMBOURG: Luxembourg remains key enabler of tax avoidance, report says

Luxembourg remains a key facilitator of tax avoidance and is part of an axis of countries responsible for more than a third of all tax losses suffered by nations worldwide, according to a report by

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13 December 2024

UAE: UAE Introduces 15% Tax On Profits For Multinational Corporations

The United Arab Emirates (UAE) will introduce an internal minimum income tax (Domestic Minimum Top-up Tax, DMTT) of 15% for large multinational companies operating in the country, Azernews reports.

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