Bush signs tax deal with Mexico via courier

| 02/09/2010

(CNS): The Cayman Islands government signed its twentieth tax agreement last month, this time with Mexico. The Tax Information Exchange Agreement (TIEA) was exchanged by courier and considered legally binding following signature on 28 August by Cayman’s premier, McKeeva Bush in his capacity as Minister of Finance and Ernesto Javier CorderoArroyo, Minister of Finance and Public Credit for Mexico. Government officials said this latest agreement further strengthened Cayman’s international tax cooperation regime.

 
“This is Cayman’s twentieth TIEA signing,” said Bush, “which reinforces our commitment to strengthening global tax cooperation, and continues to build on four decades of our venerable transparency regime. This agreement also signifies a new chapter in the working relationship between Mexico and the Cayman Islands, encouraging further economic development and improved relations, boosting the jurisdiction’s reputation amongst Mexican investors.”
 
The Cayman Islands has surpassed the OECD’s recommended 12 agreements and has TIEAs in place with other G7 and G20 member countries, including Australia, Canada, Germany, France, Portugal, Ireland the United Kingdom and the United States.
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Comments (17)

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  1. Anonymous says:

    Does this man even know what he is signing?

    • Anonymous says:

      Well if he don’t know, just watch how quick I pop a blank check in my favor under his nose to sign!

  2. Anonymous says:

    Where was he when he signed this one? Becasue he’s been MIA for a while..

  3. Anonymous says:

    Courier.. Wow! Wa happen, no quiere taco bell?

    • Anon says:

      No quiere the AK welcome wagon.  His protective detail bailed.  Turns out Mac can see Mexico from here.

  4. S. Stirrer says:

    What a giant waste of public funds, surely this could have been scanned and emailed at no cost to the Country. Does Mac own a Courier Service too?

    • Anonymous says:

      You really are a stirrer too aint it?

      Sorry but I’d rather they spent 100 public bucks on a courier than a few thousand on luxury flights and accommodations for Bush and his whole entourage in Mexico.  And email exchange might not be appropriate in the circumstances given that in order for a proper exchange to take place, each party has to receive the other’s original signed documents, as opposed to a scanned copy by email.

      • Anon says:

        Well, well, well- Can the attorneys out there please advise if a faxed copy has ever challenged?  Don’t think so…

        • Pauly Cicero says:

          Faxed copy? That’s so 1980’s.

          • Anon says:

            And yet it stands the test of time.  It’s a ‘hard copy’ and I don’t know of any case where its authenticity has been challenged.  Hell, I bought my place on the island via fax!  But thanks for doing something besides a thumbs down, Pauly.

            • Pauly Cicero says:

              In my experience in business, a fax was not accepted as final for an important document. If a fax was accepted it had to be followed up by an original. Faxed ancillary documents were accepted provided it had been agreed by the parties. If you can take a look at your fax and see if it is legible. Fax machines usually used thermal paper that faded badly. Electronic copies such as .pdf’s are much more commonly accepted. As for authenticity I don’t have any direct experience because the firms I worked for did not accept a faxed signature.

    • Anonymous says:

       I remember a few months ago when he was jet setting all over the world signing these things I posted here that in the real world everything is done via emails etc.  You look at the document, if there are changes to the document you track change it, send it back until all parties are in agreement. I then posted that once everything has been signed, both governments could then courier the signed original documents.  Good to see that the  Government reads this website and takenotes of sensible suggestions. 

      To those who are saying that the document could have been scanned.  An original signed copy of a document is usually required in all circumstances to solidify an agreement.  Why should a government send a scanned copy?  These things fade over time.  The original will stand the test of time. 

      Good move UDP