The Cayman Islands Government has welcomed a message of support from the Organisation of Economic Cooperation and Development (OECD).
The email, which was in relation to the European Commission’s blacklist, was signed jointly by the director of the OECD Centre for Tax Policy and Administration (CTPA) and the head of the global forum secretariat.
Cayman was placed on the blacklist, which consolidates national tax ‘blacklists’ as they stood six months ago and includes any jurisdiction the lists of ten or more Member States.
“As the OECD and the Global Forum we would like to confirm that the only agreeable assessment of countries as regards their cooperation is made by the Global Forum and that a number of countries identified in the EU exercise are either fully or largely compliant and have committed to AEOI, sometimes even as early adopters” said the email.
“Without prejudice to countries’ sovereign positions, we are happy to confirm that these jurisdictions are cooperative and we would like to commend the tremendous progress made over the past years as well as the cooperation and integrity of the Global Forum process.”
The OECD added that the exercise has looked like the establishment of a list, although their EU colleagues have confirmed this was not the intent.
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