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There is no property tax, income tax, corporate tax, sales tax, capital gains tax, inheritance tax, or any other kind of direct taxation in the Caymans. This is one of the most significant reasons that this small place has attracted the registration of many offshore businesses (about 50,000 of them) from all over the world.
There is a departure tax of CI$10 or US$12.50, and every traveler over the age of 12 must pay it. There is a one-time "stamp duty" assessed on real estate purchases, and it ranges between 7.5 and 9 percent. If you buy a furnished house, the value of those furnishings is deducted before the stamp duty is calculated.
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