The Organisation for Economic Cooperation and Development is expected to officially move the Cayman Islands from its so-called grey list to the white list today.
The development comes after Leader of Government Business McKeeva Bush signed a Tax Information Exchange Agreement with New Zealand yesterday in Washington, DC. The signing marked the 12th such agreement Cayman has signed, a threshold the OECD has indicated was a part of the requirement to be included on its white list.
Mr. Bush was confident the OECD would put the Cayman Islands on the white list today.
‘For over four decades the Cayman Islands has steadily earned its place as a world-class international financial services centre,’ he said. ‘The Cayman Islands Government sees the OECD’s recognition as a natural outcome of the country’s substantial commitment to uphold an equally world-class international cooperation regime in the exchange of tax information.’
Read more in Friday’s editions of the Caymanian Compass…