The Cayman Islands government on December 4 announced that it has initialed a tax information exchange agreement with Indonesia following negotiations in early December in Grand Cayman.
Welcoming the agreement on behalf of the islands, Head of the Cayman Islands’ delegation, Attorney General, Samuel Bulgin, said:
"This agreement signifies the development of a new partnership between the Cayman Islands and Indonesia, which will ultimately render further transparency and business between the two countries. We certainly look forward to a prosperous working relationship and hope to finalise and sign the TIEA early next year."
The agreement remains to be signed, after which it will require ratification by both countries’ legislative assemblies before it can enter into force.
According to statistics published by the Organization for Economic and Cooperation Development, the Cayman Islands has concluded similar agreements with 19 other nations.
.Tags: tax | offshore | investment | business | agreements | tax havens | international financial centres (IFC) | tax information exchange agreement (TIEA) | Cayman Islands | Indonesia | Cayman Islands | Indonesia
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