Cayman plans tax deal with Indonesian government

(CNS): The Cayman Islands government has concluded the negotiations for what will be the country’s twenty first tax information exchange agreement once it is signed. This latest deal is with the Republic of Indonesia whose officials came to Grand Cayman for a meeting in early December. Both delegations agreed on several areas of common interest and proceeded to initial the agreement. Head of the Cayman Islands delegation, Attorney General, Samuel Bulgin said the Ministry of Finance was pleased to host the Indonesian delegation for the first time.

On behalf of the Negotiation Team, he said, “This agreement signifies the development of a new partnership between the Cayman Islands and Indonesia, which will ultimately render further transparency and business between the two countries. We certainly look forward to a prosperous working relationship and hope to finalise and sign the TIEA early next year.”

The Indonesian delegation was headed by Director of Taxation II, Directorate General of Taxes, Ministry of Finance, Achmad Sjarifuddin Alsah. Also present were Indonesian Deputy Director of Tax Treaty and International Tax Cooperation, Astera Primanto Bhakti; Section Chief of International Tax Cooperation, Heny Purwanti; and Staff of Treaty Tax of International Cooperation, Partomuan Transparanter Juniult.

Cayman’s TIEA Negotiation Team members included George McCarthy; Langston Sibblies; Kenneth Jefferson; Duncan Nicol; Jacqueline Jefferson-Ziemniak and Yainelys Ebanks from the Financial Services Secretariat.