George Town, Grand Cayman – The Cayman Islands and Poland today signed a tax information exchange agreement (TIEA), in support of global transparency and tax initiatives.
Signing the agreement were Cayman's Minister of Financial Services, Wayne Panton; and Poland's Ambassador, His Excellency Witold Sobkow. The signing was held in London, as Cayman officials were there to participate in the Joint Ministerial Council of Overseas Territories of the United Kingdom.
'Today's signing indicates our countries' confidence that TIEAs are effective in the fight against financial crimes, including money laundering and tax evasion', Minister Panton said.
He also reaffirmed the need for globally accepted and promoted standards, such as those set by the OECD's Global Forum on Transparency and Exchange of Information for Tax Purposes. 'The concept of fairness in global business is possible, once critical mass has been achieved in the number of countries that practice them', Minister Panton noted. With this signing, Cayman now has agreements with 33 countries. To review the TIEA between Cayman and Poland, visit http://tia.gov.ky/pdf/Agreement_-_Poland_-_29_November_2013.pdf.
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