Oct-07-2009 British Virgin and Cayman Isles ‘White Listed’

In a move that places the British Virgin Islands and the Cayman Islands alongside the likes of the US and the UK in terms of their implementation of international tax standards, the recent addition of these two offshore financial centres to the Organisation for Economic Cooperation and Development’s global ‘White List’ has been widely welcomed by the international finance community.

Originally placed on the OECD’s ‘Grey List’ of countries that had agreed to improve transparency but had not yet signed sufficient information exchange agreements, the British Virgin Islands and the Cayman Islands hit their requisite twelve agreements when, last month, they signed pacts with New Zealand.

Read more from the OECD’s centre for Tax Policy, click here

To read more on OECD’s Tax Information Exchange Agreements, click here

To view the complete OECD ‘White List’, click here