Cayman Issues Tax Information Exchange Law Regulations

On May 9, 2006, the Cayman Islands issued regulations under the 2005 Tax Information Authority Law, which entered into force on September 1, 2005. The law and the new regulations provide a framework within which countries can request tax information from the Cayman. Sec. 4 of the Law designates the Financial Secretary as the Tax Information Authority for the purposes of the Law and any scheduled Agreement (e.g., a tax information exchange agreement in force with the Cayman Islands) … [more]