Cayman takes another step forward in the fight against global tax evasion. Government has signed a deal that sets the worldwide standard for automatic exchange of information among tax authorities.
More than 50 other countries and jurisdictions have also done that.
Come 2017, Cayman will swap information on taxpayers’ offshore accounts and balances between authorities.
Financial Services Minister Hon. Wayne Panton who signed the agreement in Germany Wednesday (29 October) said: ”We are pleased that so many countries and jurisdictions are now part of this worldwide effort to fight tax evasion via a global standard across borders.”