Offshore Haven Considers a Heresy: Taxation

October 4th, 2009

New York Times

GEORGE TOWN, Cayman Islands — What happens to a tax haven when it has to raise taxes? The Cayman Islands may soon find out.

Caught in a vise of shrinking revenue and stubbornly high public spending, the Caymans averted a fiscal crisis this week by securing a $60 million overseas loan.

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