The Cayman Islands has signed a Tax
Information Exchange Agreement with Aruba. It is the 16th bilateral agreement
to exchange tax information that Cayman has concluded as part of the Organisation
for Economic Cooperation and Development’s framework to increase tax
transparency and fight tax evasion.
The agreement has now become
legally binding following the signing by Premier McKeeva Bush in his capacity
as Minister of Finance on 20 April 2010 and by Mike E. de Meza, Aruba’s
Minister of Finance, Communication, Utilities and Energy on 9 April 2010.
Cayman has finalised negotiations
with five countries and is in ongoing negotiations over further TIEAs with an
additional nine OECD or G20 countries.
Commenting on the signing, Mr. Bush
said: “This agreement signifies a new development in the relationship
between the Cayman Islands and The Kingdom of the Netherlands. The Cayman
Islands Government is confident that these agreements will eventually
contribute to increased future economic activity between all countries
The Cayman Islands signed TIEAs
with The Netherlands on 8 July 2009 and with The Netherlands Antilles on 29