A new double taxation arrangement (DTA) which will facilitate tax information exchange that meets OECD standards, was signed on June 15 by Stephen Timms, Financial Secretary to the Treasury and W McKeeva Bush, Leader of Government Business in the Cayman Islands.
Switzerland and Mexico have agreed at a technical level to the extension of administrative assistance in tax matters under Art. 26 of the OECD Model Convention.
Dollar falls on U.S. plan to boost lending The greenback is down against major currencies as the Fed and Treasury announce a plan to lend billions in an attempt to backstop consumer debt.