The Cayman Islands and Poland have signed a tax information exchange agreement (TIEA), in support of global transparency and tax initiatives.
Wayne Panton, Cayman’s Minister of Financial Services, and Poland’s Ambassador, His Excellency Witold Sobkow, signed the agreement in London. 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,” said Minister Panton.
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.
Cayman, Poland, tax agreement, TIEA, Wayne Panton