Tax Havens Leave ‘Grey List’ Behind

August 13th, 2009

The Cayman Islands and British Virgin Islands are about to leave the OECD’s grey list after signing their 12th tax exchange agreements.


LONDON — In the latest development in the global crackdown on tax havens, two of the world’s biggest offshore financial jurisdictions were scheduled on Thursday, to sign their 12th Tax Information Exchange Agreements (TIEA), officially taking them off the “grey list” of offshore tax havens put together by the Organization for Economic Cooperation and Development.

Representatives of the British Virgin Islands and the Cayman Islands, both overseas territories of the United Kingdom and major offshore financial centers, were due to sign the TIEA with New Zealand on Thursday afternoon in Washington D.C., a spokesman for the British Virgin Islands told Forbes.

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