Fiscal Transparency In The Cayman Islands

Introduction

The Cayman Islands have an extremely open, accountable and transparent government and regulatory system. Despite the dated stereotype, the Cayman Islands have promoted transparency regulations and initiatives for many years.

1. In May 2000, the Cayman Islands made commitments to the Organisation for Economic Co-operation and Development (the "OECD") to introduce measures for the exchange of tax information and were one of the first non-OECD jurisdictions to adopt the principles of transparency and information exchange.
2. These commitments continue to be honoured today with legislation (Tax Information Authority Law (2014 Revision) (the "TIA Law")) and tax information exchange agreements with 20 jurisdictions, including: Australia, France, Germany, the United States and the United Kingdom.