Cayman Islands Business Laws
Cayman Islands Business Laws

Author: Adam Starchild

Publisher: The Minerva Group, Inc.

Published: 2000-04

Total Pages: 439

ISBN-13: 1893713024

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The Cayman Islands, a British Crown Colony, have no taxes whatsoever on income, profits, wealth or capital gains. The revenues of the Islands are derived from indirect taxes such as import duties and stamp duty. There never have been any taxes, so the absence of income tax is not an artificial absence created by legislation, but a natural one. Companies and trusts in the Cayman Islands enjoy the same tax-free status as individuals regardless of nationality of ownership. This absence of taxes, together with political and racial stability, has attracted the attention of investors seeking tax-free base for their operations. The Government of the Cayman Islands is aware it attractiveness to outsiders and actively encourages investment through the passage of legislation and development of the financial sector. In late 2000 the Caymans government reports that the world's fifth largest financial center (after New York, London, Tokyo, Hong Kong), saw a 51% increase in company registrations in the past year, with a total of 57,900 on file. 17 new banks were also registered, for a total of 465.

The Economic Structure of Corporate Law
The Economic Structure of Corporate Law

Author: Frank H. Easterbrook

Publisher: Harvard University Press

Published: 1996-02-01

Total Pages: 386

ISBN-13: 0674253833

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The authors argue that the rules and practices of corporate law mimic contractual provisions that parties would reach if they bargained about every contingency at zero cost and flawlessly enforced their agreements. But bargaining and enforcement are costly, and corporate law provides the rules and an enforcement mechanism that govern relations among those who commit their capital to such ventures. The authors work out the reasons for supposing that this is the exclusive function of corporate law and the implications of this perspective.

Taxation of Crypto Assets
Taxation of Crypto Assets

Author: Niklas Schmidt

Publisher: Kluwer Law International B.V.

Published: 2020-11-27

Total Pages: 677

ISBN-13: 9403523514

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The emergence of crypto assets has required taxation authorities worldwide to develop unprecedented policies and compelled tax lawyers to apply existing laws in new ways. This book – the only one to focus solely on the taxation of crypto assets – provides a detailed country-by-country analysis of how the tax law of thirty-nine countries may apply to this rapidly developing area, including different use cases and compliance and documentation requirements. Following an overview of the technology and key characteristics of crypto assets, as well as the key tax concepts and types of taxes that could apply to them, leading practitioners in each particular jurisdiction summarize the relevant tax law in that country. Fully explained are such aspects of crypto assets as the following and how they are interrelated: sales; exchanges; receipt as remuneration; forks; airdrops; mining; staking; initial coin offerings; security token offerings; and initial exchange offerings. Contributors describe how each jurisdiction applies income and capital gains taxation, value-added tax and sales tax, withholding taxes, transfer taxes, and gift, inheritance, estate and wealth taxes in the context of crypto assets. Reporting requirements and enforcement are also covered. Tax law, as it applies to crypto assets, is new and continues to evolve. This book will be welcomed as the premier resource for tax practitioners, government officials, advisors, investors, issuers, users of crypto assets, and taxation academics who are seeking informed awareness of the policy choices countries make in dealing with the taxation of this new technology. Tax lawyers dealing with crypto assets will have comprehensive practical guidance on how to comply with the tax laws of multiple jurisdictions.