The Cayman Islands Financial Services leaders and some of the country’s most vocal critics were in the same room to talk tax transparency.
Wednesday (4 April) at the Marriott was the Financial Services Ministry’s tax transparency in the global financial services ecosystem event where information was shared among industry leaders and foreign regulators some of whom continue to see Cayman as a tax haven.
The meeting represented the first of it’s kind to happen in the Cayman Islands and Minister of Financial Services Wayne Panton said Cayman is closer than ever into moving into the automatic exchange of tax information.
“It was time for us to have an event like this to have a representative the most senior person from the OECD which is the international standard setter in terms of exchange of information on tax information and we also wanted to take the opportunity to be bold enough to have a reprensentative from NGO’s like the tax justice network who have been a frequent and vocal critic of places like the Cayman Islands.
The keynote speaker at the conference was Mr. Pascal Saint Amans the Director of the Center for Tax Policy and Administration Organisation for Economic Co-operation and Development (O.E.C.D).
In his closing remarks Minister Panton told attendees of Cayman’s Financial Services Industry possibly being as strong as it’s ever been while complying with global regulatory standards.