Finland's Ministry of Finance has announced the termination of savings tax agreements with Anguilla, the British Virgin Islands, the Cayman Islands, Guernsey, Jersey, the Isle of Man, Montserrat, and the Turks and Caicos Islands. The termination was approved by the president on 27 March 2020 and is generally effective from 1 January 2016. The reason for the termination is the repeal of the EU Savings Directive, which was replaced by the amended provisions of the EU Administrative Assistance Directive.