The Cayman Islands Government has announced that it has included Ireland in domestic law arrangements that provide access to comprehensive information assistance in relation to tax matters.
The listing of countries, which now includes Ireland, is under Cayman legislation introduced in 2008 that unilaterally delivers on Cayman's commitment to the OECD to introduce transparency and exchange of information in tax matters.
According to the Revenue press release, this development will allow the Revenue to request information from the Cayman Islands' authorities that is relevant to an Irish tax investigation. Such information would typically relate to bank accounts or the beneficial ownership of companies or trusts.