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Offshore firms challenge Cayman's production of records to Australia under TIEA for tax evasion investigation

September 19, 2012 by David Marchant


  • Offshore firms claim Cayman Islands Tax Information Authority acted illegally when providing information to Australian Taxation Authority
  • Dispute concerns investigation into suspected tax evasion by Switzerland-based financial adviser Peter Borgas
Three offshore companies domiciled in the Cayman Islands and the Bahamas yesterday filed a legal challenge to a decision by the Cayman Islands Tax Information Authority to provide "confidential information" to the Australian Taxation Authority pursuant to a Tax Information Exchange Agreement between the two countries.

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