Archive for August, 2012

Turkey to sign TIEA with Cayman Islands

Saturday, August 18th, 2012

Turkish Finance Minister Mehmet Simsek announced that the country intends to crack down on tax evasion and to expand its Tax Information Exchange Agreement (TIEA) network. The Cayman Islands is one of the jurisdictions with which the process of signing the agreement is being negotiated.

Turkey’s recent TIEA with Switzerland is due to take effect from January 1, 2013. Similar Turkish agreements have been signed with Jersey, Guernsey, Singapore, Malta, the Isle of Man, Luxembourg and Malaysia . Further agreement with the Cayman Islands is being negotiated. Also, Turkey is negotiating the TIEAs with Gibraltar, the BVI, Barbados, the Bahamas and Panama.