Japan Cayman Tax Treaty Comes into effect 13 Nov

A tax information exchange treaty between Japan and the Cayman Islands will come into effect Nov. 13 due to the completion of necessary domestic procedures by the two governments, the Foreign Ministry said.

The treaty was signed Feb. 7 to prevent international tax evasion between Japan and the Cayman Islands.

The British territory in the Caribbean is the fourth tax haven that Japan has concluded such a treaty with after Bermuda, the Bahamas and the Isle of Man.

Enhancing information exchange on taxes has emerged as an important international issue in the wake of the global financial crisis in 2008.

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