Cayman-Canadian TIEA now in force

The Tax Information Exchange Agreement between the Government of Canada and the Cayman Islands was entered into force yesterday, 1 June 2011

The TIEA was signed on 24 June 2010 in George Town by the Canadian High Commissioner, H.E. Mr. Stephen C. Hallihan and Cayman Islands Premier the Honourable McKeeva Bush, OBE, JP. The entry into force of this TIEA is significant for both countries, as it now allows for the exchange of information as outlined in the provisions of the Agreement, with relation to taxes.

The Cayman Islands has 23 agreements in place with the U.S., Denmark, Faroe Islands, Finland, Greenland, Iceland, Norway, Sweden, U.K., Ireland, the Netherlands, New Zealand, France, Netherland Antilles, Australia, Aruba, Portugal, Germany, Canada, Mexico, Japan, India and South Africa. Negotiations have also been completed with a further seven jurisdictions.