On the status of Tax Information Exchange Agreements and Associated Matters
Background
The purpose of this statement is to update the Honourable Legislative Assembly and the wider public on the recent trip of a Cayman Islands delegation to Europe relating to Tax Information Exchange agreements. Before doing so I wish to provide some brief background as to the status of things before the UDP government starting working on this initiative approximately 3 weeks ago. In this regard I wish to outline exactly what was achieved in previous years, the status of things as reported to us when we were elected to office and our accomplishments over the past 3 weeks.
It is also important to acknowledge the work done in previous years by the former administration as well as senior civil servants who have worked on this project over the years.
The Status of Tax Information Exchange Agreements on June 2nd 2009
Upon its election to office the new government was informed of the following status of negotiations, which was primarily based on a briefing note received from the Deputy Financial Secretary on June 2nd 2009: