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Cayman Islands: Increase in work permit fees and tourism taxes expected – Bush
Cayman Islands Premier., McKeeva Bush. PHOTO/File
Two days after scrapping plans to impose a controversial “community enhancement fee” on foreign workers, Cayman Islands Premier McKeeva Bush has announced increased work permit fees and tourism accommodation taxes.
(More: Cayman Islands: Foreign worker tax scrapped)
At a public meeting on Wednesday, Bush said that the increase in work permit fees would bring in an additional US$7.6 million for the government in the current financial year.
The increases will range from a modest 5 percent on work permit fees of between US$1,000 and US$2,999 to a whopping 35 percent on fees of US$15,000 to US$24,000 for top level employees.
Among other new revenue measures announced by Bush was an increase in the tourism accommodation tax from the present 10 percent to 13 percent. The departure tax will also go up by $10 per person.