Cayman Islands, Malta Sign TIEA

MEDIA ROOM

Malta and The Cayman Islands have signed a tax information exchange agreement. (TIEA). The agreement was signed by Cayman Financial Services Minister Wayne Panton and Finance Minister, Professor Edward Scicluna. Panton was quoted as saying by the Caribbean Journal.

“As both Cayman and Malta are Global Forum members we recognise that the exchange of information between countries — or in the case of multilateral agreements, among countries — is a vital cog in the application of globally accepted standards”.

TIEA agreements

He added that “these agreements are implemented by competent authorities who understand the legal nuances and importance of cooperating in the fight against illegal activity such as tax evasion and money laundering,” He also said that “without them, criminals would continue to drain public coffers, and deprive both developed and developing countries of economic opportunities.”