CAYMAN ISLANDS Law and Practice Contributed by: Daniel Lee, Sophia Scott, Kimberly Robinson and James Turner, Maples Group
6. Competition Law 6.1 Merger Control Notification
Please refer to 5.1 Taxes Applicable to Employ- ees/Employers . 5.3 Available Tax Credits/Incentives Please refer to 5.1 Taxes Applicable to Employ- ees/Employers . 5.4 Tax Consolidation Please refer to 5.1 Taxes Applicable to Employ- ees/Employers . 5.5 Thin Capitalisation Rules and Other Limitations The Cayman Islands currently has no thin capi - talisation rules. 5.6 Transfer Pricing The Cayman Islands currently has no transfer pricing rules. 5.7 Anti-Evasion Rules Please refer to 5.1 Taxes Applicable to Employ- ees/Employers . Considering the various taxes that are not applicable in the Cayman Islands, the Cayman Islands also has no anti-evasion rules. 5.8 Tariffs The Cayman Islands do not have a tariff regime or similar economic protections like many other counties, however the Cayman Islands Customs & Border Control (CBC) unilaterally impose cus - toms duties on certain goods imported into the jurisdiction to generate local tax revenue. If you are considering importing goods to the Cayman Islands it is advisable to consult a local expert or CBC for the most accurate and up-to-date information.
The Cayman Islands has merger control legisla - tion for the following markets and sectors that are operating and providing services within the Cayman Islands (together, the “Utilities Markets and Sectors”): • electricity markets, including the genera - tion, transmission, distribution and supply of electricity; • fuels markets; • information and communications technology markets, including broadcasting and content services; and • water sector, including the production, distri - bution, supply and treatment of water. The Utility Regulation and Competition Office (OfReg) was established pursuant to the Utility Regulation and Competition Act (As Revised) (URCA), with the responsibilities to: • promote appropriate, effective and fair com - petition; • protect the short- and long-term interests of consumers in relation to utility services and in so doing: (a) supervise, monitor and regulate any ser - vice provider providing any of the refer - enced utility services; (b) ensure that utility services are satisfactory and efficient and that charges imposed in respect of utility services are reasonable and reflect efficient costs of providing the services; and (c) publish information, reports and other documents relating to utility services (ie, keep the public informed of the different utilities service providers);
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