'Inspired' by Panama Papers, Cayman Islands to share tax info
The British territory's financial services ministry said statement that it will join an effort to develop a "global standard" for the sharing of beneficial ownership registers.
This would make it easier to identify people hidden behind shell companies. The tiny Caribbean territory is a well-known haven for private equity.
Following a leak of documents from a Panama-based law firm, the EU's five biggest economies last month agreed to share company ownership information and urged others to do the same. The Panama Papers leak has put tax evasion at the top of the international agenda. ■