The Cayman Islands has announced that it has entered into a landmark agreement to share tax information with China.
At the signing ceremony on September 26, the Cayman Islands' Premier, McKeeva Bush said:
“Signing this TIEA is a significant step in enhancing the relationship between the Cayman Islands and China. With China being one of the fastest growing economies in the world, we are confident that this TIEA will contribute positively to economic activity between the two countries."
“This is [our] 26th signed agreement for exchange of information for tax purposes, and the People’s Republic of China has become another member of the G20 countries to have a TIEA with the Cayman Islands.”
Bush co-signed the agreement with Song Lan, the State Administration of Taxation Deputy Commissioner and Vice Minister. Both countries must conclude their individual ratification procedures before the agreement can enter into force.
.Tags: tax | offshore | business | banking | offshore banking | tax havens | international financial centres (IFC) | tax information exchange agreement (TIEA) | Cayman Islands | China | G20 | China | Cayman Islands
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