A tiny exotic island in the Caribbean has become the latest country to open its tax books to Ireland, it emerged tonight.
The new agreement will allow authorities here to request information relevant to Irish investigations from the Cayman government.
It is the fourth off-shore island Ireland has secured a tax deal with after the Isle of Man, Jersey and Guernsey.
Junior minister for finance Martin Mansergh said it represented a new chapter in relations between the two countries.
“This agreement will allow the Revenue Commissioners to request information which is relevant to an Irish tax investigation directly from the authorities in the Cayman Islands,” he said.
“Information that would typically be relevant is bank account information and beneficial ownership information for companies and other entities established in the Cayman Islands.”
Mr Mansergh said the Government hopes to sign a tax information exchange agreement (TIEA) with Gibraltar shortly, bringing the total to five.
Ireland has 50 Double Taxation Agreements (DTAs) in place with other countries, designed to avoid people being taxed twice.
The number is expected to rise to 60 by the end of the year.
PA