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Published 18th July 2011, 11:22am

George Town, Grand Cayman — The Ministry of Finance, Cayman Islands Government, will host the seventh meeting of the Global Forum Peer Review Group from 18-22 July at the Westin Casuarina Resort. The event is expected to have more than 150 attendees, representing 40-plus jurisdictions.

This meeting comprises presentations, discussions and approvals of peer review reports, and other matters involving the peer review process by member and non-member countries that relate to transparency and the exchange of information for tax purposes.

The Minister of Finance, the Honourable McKeeva Bush, OBE, JP, will host the meeting.

“Through our longstanding relationship with the OECD, and having signed bilateral agreements with 23 countries, the Cayman Islands has maintained high standards in tax transparency during the last 11 years,” Mr. Bush said. “As members of the Peer Review Group and the Global Forum Steering Group, we are committed to participating in international cooperation matters relating to tax and policy matters of the OECD.

“We look forward to sharing our Caymanian hospitality with the delegates, and I also thank the staff of the Financial Services Secretariat for organising this meeting on behalf of the Ministry,” Mr. Bush added.

The Cayman Islands has actively participated in tax transparency initiatives since 2000, playing an integral role in the restructured Global Forum, Steering Group and the Peer Review Group. To date the Cayman Islands has provided assessors for five peer review evaluations.

The Cayman Islands had a favourable assessment during Phase 1 of the Peer Review Process and is expected to undergo its Phase 2 in the second half of 2012.

 

For more information, please contact the Financial Services Secretariat at (345) 945-5819 or via email at financepr@gov.ky.