The Cayman Islands has signed a Tax
Information Exchange Agreement with Mexico. The agreement was signed by Premier
McKeeva Bush, in his capacity as minister of finance, and Ernesto Javier
Cordero Arroyo, the minister of finance and public credit for Mexico.
The agreement was exchanged via
courier and entered into force on 28 August.
“This is Cayman’s twentieth TIEA
signing,” said Mr. Bush, “which reinforces our commitment to strengthening
global tax cooperation, and continues to build on four decades of our venerable
“This agreement also signifies a
new chapter in the working relationship between Mexico and the Cayman Islands,
encouraging further economic development and improved relations, boosting the
jurisdiction’s reputation amongst Mexican investors,” he added.
The Organisation for Economic
Cooperation and Development has encouraged the conclusion of TIEAs to promote
international tax transparency.
The Cayman Islands has TIEAs in
place with other G20 member countries, including Australia, Canada, Germany,
France, the United Kingdom and the United States.