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      Question

      Consider the following statements: 1.┬а Cayman

      Islands recent exit from the FATF grey list 2.┬а Cayman Islands is a┬аFrench Overseas Territory located in the Western Caribbean Sea 3.┬а Cayman Islands considered a tax haven because the Caymans do not impose a corporate tax. Which of the statements given above is/are correct?
      A 1 and 2 Correct Answer Incorrect Answer
      B 2 only Correct Answer Incorrect Answer
      C 1 and 3 Correct Answer Incorrect Answer
      D 2 and 3 Correct Answer Incorrect Answer

      Solution

      Cayman IslandsтАЩ recent exit from the FATF grey list is expected to bolster global private equity funds looking to invest in non-banking financial companies (NBFCs) based in India. The Cayman Islands is a┬аBritish Overseas Territory located in the Western Caribbean Sea They are┬аconsidered a tax haven because the Caymans do not impose a corporate tax,┬аmaking it an ideal place for multinational corporations to base subsidiary entities to shield some or all of their incomes from taxation.

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