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Cayman Islands: Foreign worker tax scrapped
Cayman Islands Premier., McKeeva Bush. PHOTO/File
The Cayman Islands has scrapped plans to impose an income tax on foreign workers just two weeks after Premier McKeeva Bush, outlined plans for what he described as a “Community Enhancement Fee” to be charged at 10 percent of the remuneration paid to foreign work permit holders.
(More: Cayman Islands Premier McKeeva Bush facing backlash over foreign worker tax)
Following discussions with local business leaders, Bush said on Monday that alternative revenue sources had been identified.
“The tax would be taken off the table if robust, credible and sustainable revenue that did not hurt the poorest members of our islands was found. We are satisfied that many of the commitments from the private sector will meet these criteria,” he said.
The new revenue proposals are expected to be identified at a public meeting on Wednesday.