UK Enters into Tax Agreements with the Cayman Islands and Other Offshore Jurisdictions

March 24, 2014

The UK and the Cayman Islands recently entered into an agreement to improve international tax compliance (ITC). Similar to the US Foreign Account Tax Compliance Act, the ITC imposes wide-ranging UK financial reporting obligations on financial institutions in the Cayman Islands, and may subject non-compliant financial institutions to legal sanctions. The UK has entered into similar agreements with Bermuda, Montserrat, Turks and Caicos, the British Virgin Islands, Anguilla, the Isle of Man, Guernsey, Jersey and Gibraltar.

Please click here to read "UK Enters into Tax Agreements with the Cayman Islands and Other Offshore Jurisdictions."