The Cayman Islands has maintained its largely compliant rating in the 2017 Exchange of Information on Request Peer Review Report (Second Round), published by the Global Forum on Transparency and Exchange of Information for Tax Purposes.
As a key component of its reports, the Global Forum issues recommendations to assessed countries – regardless of their ratings – in order to further support their compliance with the international standard. Cayman received three recommendations in its report.
In addressing these recommendations, the Ministry of Financial Services will consult with industry stakeholders.
In their media release issued Monday, 21 August, the Global Forum notes that Australia, Bermuda, Canada, the Cayman Islands, Germany and Qatar were rated largely compliant, while Ireland, Mauritius and Norway were rated as compliant. Jamaica received a partially compliant rating.
News source: Press release