South Africa announces TIEA with Cayman
(CNS): According to reports in the South African press, that country will be one of the next jurisdictions with which the Cayman Islands will be signing a tax exchange deal. The Cayman government has already signed 19 different Tax Information Exchange Agreements (TIEA) with countries around the world surpassing the OECD’s standard of at least 12 deals. Although there is no indication of when or where the TIEA will be signed with South Africa on the Tax Information Authority website, The Times reports that the details of the TIEA with Cayman and four other jurisdictions were presented to South African law makers this week.
The last deal Cayman signed was with Canada in June, here in George Town between Premier McKeeva Bush and Canada’s High Commissioner to Jamaica, Stephen Hallihan. The premier has signed a number of deals locally, sone haave even been signed via courier. However, others have been signed on location by the premier and it is not known if Bush will be travelling to Johannesburg to sign this deal or if it will be signed locally.
The Cayman Islands is on the Organisation for Economic Cooperation and Development (OECD) „white list‟ of jurisdictions that substantially implement international tax standards and currently has 19 bilateral arrangements with the following countries for the provision of tax information: Aruba, Australia, Canada, Denmark, Faroe Islands, Finland, France, Germany, Greenland, Iceland, Ireland, the Netherlands, Netherlands Antilles, New Zealand, Norway, Portugal, Sweden, the United States and the United Kingdom. Copies of the agreements can be found via the following link: www.tia.gov.ky
Category: Business
