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Published 4th November 2009, 3:35pm

The Cayman Islands signed a Tax Information Exchange Agreement (TIEA) with the Netherlands Antilles on 29 October 2009 whilst attending the CFATF Plenary, held in Curacao.

The agreement, which is Cayman’s fourteenth, was signed on behalf of the Cayman Islands by Attorney General, the Honourable Samuel Bulgin, who was Cabinet’s authorised signatory.

Mr Bulgin said: “This signing represents the Cayman Islands continued commitment to OECD standards for transparency and exchange of information on tax matters. It will commemorate the beginning of what I am sure will be a mutually-rewarding relationship between the Cayman Islands and the Netherlands Antilles.”

Negotiations have also been completed with a number of other countries including Aruba, Australia, Canada, Germany, Italy and Mexico and it is anticipated that agreements will be signed before the end of 2009. Negotiations are also currently ongoing with a further 10 jurisdictions which comprise Argentina, Belgium, China, Czech Republic, India, Japan, Korea, Portugal, Spain and South Africa.

Commenting on the signing, Premier/Leader of Government Business, Minister for Financial Services, the Honourable McKeeva Bush said “The Cayman Islands are committed to effective implementation of these agreements and as such, we have in place all the necessary internal processes required for the legal implementation of all signed agreements.”