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Published 9th November 2005, 2:3pm

9 November 2005 - George Town, Grand Cayman - A delegation under the leadership of the Honourable Alden McLaughlin, Minister with Special Responsibility for International Initiatives Affecting the Financial Services Sector, will be participating in the Organisation for Economic Cooperation and Development (OECD) Global Forum on Taxation to be held in Melbourne, Australia from15 to 16 November 2005.

Minister McLaughlin informed members of the Legislative Assembly Wednesday of the Cayman Islands' participation. Cayman is a member of the Global Forum in its own capacity and has an independent seat at the table.

The agenda for the meeting will be devoted to level playing field issues in relation to international cooperation in tax matters via the exchange of information. The meeting will consider technical work done towards the identification of the current international baseline standard for the exchange of information in tax matters and attempt to agree on next steps for the achievement of fair competition and non-discrimination in this context.

"The level playing field issue is of paramount importance to the Cayman Islands," said Minister McLaughlin in his statement to the Legislative Assembly. "Hence the decision to ensure that we have a voice in the Global Forum discussions."

Other members of the delegation include Deborah Drummond, Deputy Financial Secretary (Financial Services); Don Ebanks, Executive Director and Chris Rose, Director, International Tax Policy, both of the Finance & Economics Secretariat.

The Cayman Islands delegates will join those from approximately 80 countries, comprised of both OECD and non-OECD members. The Cayman Islands has actively participated in previous OECD gatherings and has worked with other jurisdictions to promote the concept of a level playing field in the area of international cooperation in tax matters via the exchange of information.

 

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