China, Cayman Islands sign tax agreement

The Cayman Islands government says it has signed a tax information exchange agreement (TIEA) with the People's Republic of China.

Premier McKeeva Bush signed the agreement with the visiting Chinese delegation headed by Madame SONG Lan, the State Administration of Taxation deputy commissioner and vice-minister.

"This is the 26th signed agreement, for exchange of information for tax purposes and the People's Republic of China has become another member of the G20 group of countries to have a TIEA with the Cayman Islands", Premier Bush said.

"Signing this TIEA is a significant step in enhancing the relationship between the Cayman Islands and China. With China being one of the fastest growing economies in the world, we are confident that this TIEA will contribute positively to economic activity between the two countries," he said.

The signing ceremony was attended by Governor Duncan Taylor as well as members of the Legislative Assembly and the Cayman Islands International Tax Cooperation.