Following the signing ceremony held in George Town, Grand Cayman, the Premier, the Honourable W. McKeeva Bush said: “Our Government has a strong working relationship with our Indian counterparts, and we look forward to implementing the terms of this TIEA”.
Signing the agreement on behalf of India was India’s High Commissioner to The Bahamas, the Cayman Islands and Jamaica, His Excellency Mohinder S. Grover.
”Both countries are members of the OECD Global Forum Global Forum on Transparency and Exchange of Information for Tax Purposes, and are involved in the Peer Review Process; therefore ensuring the effective implementation of the international standards of transparency and exchange of information for tax purposes,” Mr. Bush added.
Speaking on behalf of the Cayman Islands International Tax Cooperation Team, George McCarthy commented, “It is further anticipated that this Agreement will continue to pave the way in enhancing the business relationship between our two countries. The TIEA will provide a common ground upon which the Cayman Islands and India can exercise mutual cooperation and focus on increasing investment funds business in the Cayman Islands.”
The Cayman-India TIEA outlines procedures and channels through which authorities in the respective jurisdictions can request such information, which will provide additional commercial certainty to clients of both jurisdictions.
Photo captions:
Cayman Islands Premier and His Excellency, Indian High Commissioner Grover exchange signed Tax Information Exchange Agreements at a signing ceremony in George Town, Grand Cayman.
Cayman Islands Premier, the Hon. McKeeva Bush, OBE, JP accepts a small token of appreciation from His Excellency, Indian High Commissioner Mohinder. S. Grover at the signing ceremony.
For more information please contact:
Ariana Rahamut Public Relations Officer Financial Services Secretariat Ministry of Finance P +1 (345) 244 2280 E
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www.caymanfinance.gov.ky
Cayman Islands Secures Tax Agreement with India
George Town, Grand Cayman – The Cayman Islands signed its twenty-second Tax Information Exchange Agreement (TIEA) today with India, strengthening the commercial relationship between Cayman and one of the world’s fastest growing economies.