The Government of the Cayman Islands today announced agreements with Ireland, Japan, the Netherlands and South Africa. This means that Cayman now has arrangements that provide access to comprehensive tax information assistance with 20 countries, including the majority of Cayman’s major trading partners.

The new deals signed last week facilitate tax information assistance according to OECD standards, and were made possible by the passage of the Tax Information Authority Law in 2008, legislation that enables the government to enter into Tax Exchange information as needed.

*”The Cayman Islands took the proactive step of introducing the unilateral mechanism for the provision of information in tax matters, as a complement to our bilateral negotiation programme,”* said Cayman Islands Leader of Government Business, Kurt Tibbetts. *”We recognised the need to increase the pace at which we could enter into tax information arrangements, while offering a phased approach to our negotiating partners under our bilateral programme in appropriate circumstances. We look forward to continuing this progressive approach.”*

Cayman says the unilateral mechanism provided by the law gives it an additional facility to deliver on its commitment to transparency and exchange of information in tax matters. The Government anticipates signing more deals in the immediate future. Based on its current negotiating programme – which reflects OECD countries (including significant trading partners) that have indicated interest in tax cooperation arrangements – the Cayman Islands aims in the following months to enter into arrangements with a number of additional countries, including the remaining G-7 and five other OECD member states