Vol. 562 No. 1
149 Ms B. Moynihan-Cronin asked the Minister for Finance the progress made to date with regard to the negotiations between the Revenue Commissioners and the authorities in the Cayman Islands with a view to the conclusion of a tax information exchange agreement; and if he will make a statement on the matter. [5370/03]
The Revenue Commissioners have initiated discussions with the Cayman Islands for the negotiation of a tax information exchange agreement, TIEA. First round negotiations have not yet taken place although it is hoped to finalise a date for such negotiations in the near future. The Revenue Commissioners are hopeful that discussions with the Cayman Islands will lead to the successful conclusion of a tax information exchange agreement although at this point in time it is not possible to predict when the agreement might be finalised.
In addition to the Cayman Islands, Revenue has initiated discussions with its counterparts in the Isle of Man, Guernsey and Jersey and first round discussions with Guernsey and Jersey are likely to be taking place in the near future. A first round of negotiations has already been held with the Isle of Man.
The Deputy may wish to note that the Finance Bill which is currently at Committee Stage contains a provision permitting the Government to enter into tax information exchange agreements.
