Turk And Caicos Islands Removed From 'Grey' List

by Phillip Morton, Investors Offshore.com

29 December 2009

The Turks and Caicos Islands have been placed on the OECD ‘white list’ of compliant territories, having signed 12 agreements on tax information exchange, thereby substantially implementing the internationally agreed standard on transparency and information exchange.

The territory concluded its twelfth agreement at a signing in London of six treaties with the Nordic countries – Norway, the Faroe Islands, Finland, Greenland, Iceland and Sweden – on December 16.

It also has agreements with the United Kingdom, Ireland, Netherlands, Denmark, France and New Zealand.

Commenting on the signing of the agreement, the Turks and Caicos government announced that:

“Inclusion on the OECD’s ‘white list’ will represent a major endorsement of the Turks and Caicos Islands as a transparent financial center. It will enhance the country’s reputation and confidence in its future with the international business community.”

“Work will now continue to build on this milestone to take the country well above the current OECD minimum. [Tax information exchange agreements] have already been agreed with Australia, Canada, Germany and Mexico and these should be signed in the New Year. Negotiations with other jurisdictions are also progressing well.”

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