July 3rd, 2009
Sun, sea and NO taxes - what's not to like? But the Cayman Islands has been attacked for being a centre of tax evasion. Business Daily talks to the head of its financial industry who argues it's been unfairly targeted. Also, the yoghurt factory in Bangladesh that's not intended to make a profit. Find out why...
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June 18th, 2009
Our friend Anthony Travers, chairman of the Cayman Islands Financial Services Association, wrote an opinion piece for the conservative
Washington Times yesterday in which he claims that "it is unfair to mischaracterize Cayman as a 'tax haven' - a phrase that implies secrecy and wrongdoing - as President Obama and others have done recently." Now language like this is to be expected from Mr. Travers - he has been making similar statements for months. However the surprising part of the article is what follows:
To avoid any further confusion on this issue, we...
June 15th, 2009
Signed today – and slipped out on HMRC’s web site without a press release (I wonder why?) is a double tax agreement (yes, I mean that – a DTA, not a Tax Information Exchange Agreement) with the Cayman islands.
It’s
available here.
It’s not, I hasten to add a full blown DTA.
But then, it’s not a full blown TIEA either.
In fact the extraordinary thing is that the information exchange clause is far less onerous than a TIEA. So, for example, there is no reference to the need for the parties to be able to prove beneficial ownership of trusts,...
