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Bush whacks Governor, Aud. Gen, PPM and Media as he (eventually) outlines his income tax for expats

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  1. All expat workers on work permits will be taxed 10% earning more than $36,000 per year. Note: This is different from his earlier announcement that it would be applied on expat workers earning above $20,000.
  2. The 10% will also be applied to a wider definition of salaries that could include bonuses and other compensation.
  3. The tax will not apply to non-Caymanian permanent residents or to non-Caymanian government employees.
  4. No discount will be given on the tax. This means there will be no $35,000 subtraction before tax levied. Someone earning $35,000 will not have 10% tax deducted. Someone earning above that (eg. $36,000, $40,000, etc.) will have the full 10% deducted from their salary.
  5. Planned introduction of a further tax of 5%, based on salaries, to be deducted on employers of expatriate staff in “certain categories of employment”. –further details ‘soon come.’
  6. The collection of the tax will be executed by the Immigration Department.
  7. The community enhancement fee will never be extended to Caymanians.

Published August 2, 2012

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