In the light of the experience of operating the Agreement, or to reflect changing circumstances, either Government may wish to propose a variation in the terms of this Agreement. If so, it is understood the other Government will agree to hold timely discussions with a view to revising the terms of the Agreement.
- a)The competent authorities may initiate discussions in case:
- (i)the Netherlands enters into an agreement with another jurisdiction comparable to the Cayman Islands which provides for other forms of exchange of information;
- (ii)the Government of the Cayman Islands enters into an agreement with another jurisdiction which provides for other forms of exchange of information;
- (iii)the Government of the Cayman Islands introduces new legislation which enables other forms of exchange of information.
- b)If the Netherlands enters into arrangements with another jurisdiction comparable to the Cayman Islands for the provision of information with respect to taxes that are less burdensome in any material respect than the provisions of the Agreement, the Cayman Islands may initiate discussions with the Netherlands with a view to modifying the Agreement to have similar effect.
This Protocol shall form an integral part of the Agreement between the Kingdom of The Netherlands and the Government of the Cayman Islands as authorised under the letter of entrustment from the United Kingdom of Great Britain and Northern Ireland for the exchange of information with respect to tax matters.
The Parties may, by mutual arrangement, amend this Protocol at any time in writing. The amended Protocol will come into effect on the date of the final letter arranging the amendment.
