Cayman extends Tax Information Assistance Network
The Cayman Islands government has made an announced that it has in place arrangements providing access to comprehensive tax information assistance with 20 jurisdictions. These 20 countries include the majority of Cayman Islands’ major trading partners.
Japan, Ireland, the Netherlands and South Africa are the countries that have joined 8 other countries afforded tax information assistance under a unilateral mechanism, which does not require a bilateral treaty.
The Cayman Islands also has 8 bilateral tax information agreements, which include recent agreements with the Nordic countries and an existing agreement with the United States signed in 2001.
The Cayman’s tax information exchange network now covers 4 of the 7 G-7 states and 17 of the 30 OECD member states.