Cayman signs 16th tax deal by courier
(CNS): There were no overseas trips for a Cayman delegation when the premier signed the country’s latest Tax Information Exchange Agreement (TIEA) as this one was done by courier. The Cayman Islands 16th tax deal was with Aruba and the agreement, exchanged via courier, was considered legally binding following the signature on 20 April of McKeeva Bush in his capacity as Minister of Finance and on 9 April by Mike E. de Meza, Aruba’s Minister of Finance, Communication, Utilities and Energy. Commenting on this latest TIEA signing, Premier Bush said the agreement signified a new development in the relationship between the Cayman Islands and The Kingdom of the Netherlands.
“The Cayman Islands Government is confident that these agreements will eventually contribute to increased future economic activity between all countries involved,” he said.
The Cayman Islands signed TIEAs with The Netherlands on 8 July 2009 and with The Netherlands Antilles on 29 October 2009.
The Cayman Islands is on the Organisation for Economic Cooperation and Development (OECD) ‘white list’ of jurisdictions that substantially implement international tax standards and has 16 bilateral arrangements with the following countries for the provision of tax information: Aruba, Australia, Denmark, Faroe Islands, Finland, France, Greenland, Iceland, Ireland, the Netherlands, Netherlands Antilles, New Zealand, Norway, Sweden, the United States and the United Kingdom. Copies of the agreements can be found via the following link: www.tia.gov.ky/html/arrangements.htm.
Category: Business
So why on earth were the other treaties signed overseas. Imagine how much money has been wasted. This is a joke!!