Eversheds Sutherland Tax Reform Law Blog
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Tides of Change: Bermuda and Cayman Islands Seek Admission to the Convention on Mutual Administrative Assistance in Tax Matters

By William Pauls During September, both Bermuda and the Cayman Islands announced their respective intentions to join the multilateral Convention on Mutual Administrative Assistance in Tax Matters (the Convention).  By joining the Convention, the countries will become parties to a tax information exchange network that already includes many jurisdictions, rather than having to negotiate...

Tides of Change: Cayman Islands Announces Completion of FATCA Accord with the United States

On August 13, the Cayman Islands announced the conclusion of negotiations with the United States on an intergovernmental agreement (IGA) to implement the U.S. Foreign Account Tax Compliance Act (FATCA) and a new tax information exchange agreement (TIEA).  According to media reports, the countries will adopt a Model 1B nonreciprocal FATCA IGA, which will require the Cayman Islands...

Tides of Change: Cayman Islands Announces Action Plan to Fight Tax Evasion

On the heels of a pledge made by the leaders of the G-8 to curb cross-border abuses, the Cayman Islands government announced a new action plan on June 18 to fight tax evasion, including renewed scrutiny of (i) the beneficial ownership of companies organized in the Caymans, (ii) the use of bearer shares, and (iii) the financial sector. The Cayman Islands government said in a statement...