In an Op-ed in the Cariobbean Journal under the title Why Jeffrey Sachs is Wrong on the Cayman Islands it is said that: We defer to Professor Sachs’ fellow traveler and high-taxation advocate, Richard Murphy of the Tax Justice Network. Well that’s all right then. Mind you, the article is still barking even if it is true
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It’s been announced over night that, as expected, the so called G5 tax agreement – between the UK, France, Germany, Italy and Spain – is being extended to the British Overseas Territories including Cayman, Bermuda  the BVI, Gibraltar, Anguilla and the Turks & Caicos – tax havens all. The Isle of Man has already agreed. Jersey and Guernsey have already
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I was amused to read a report of a rant from Anthony Travers, the Chairman of the Cayman Islands’ Stock Exchange, reported in tax-news.com. They say: Anthony Travers has condemned allegations made by Austria’s Finance Minister Maria Fekter that the British Virgin Islands and the Cayman Islands have received illegitimate money flows, disinformation which is going
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Last November when it first emerged that the UK was to use the US FATCA requirements to impose similar demands on the Crown Dependencies I also suggested that they would do the same to the Overseas Territories. Many were not so sure. But now the Mail on Sunday suggests Cayman has signed up for full information exchange with the UK. Ten years after the Tax Justice
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The FT has a somewhat misleading headline this morning. It says: Cayman Islands to open up to scrutiny The truth is a little different because as it notes: The Cayman Islands are poised to break with decades of secrecy by opening thousands of companies and hedge funds domiciled on the offshore Caribbean territory to greater scrutiny. Yes, this
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It’s been reported that: The top official in the Cayman Islands was arrested Tuesday on suspicion of corruption in the famed Caribbean tax haven. Premier McKeeva Bush was arrested at his home Tuesday morning in the West Bay section of Grand Cayman island by officers from the financial unit of the Royal Cayman Islands Police
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Associated Press have reported: The Cayman Islands is scrapping a plan to impose a direct income tax on thousands of expatriates working in the British Caribbean territory that is famed as a no-tax financial center. Premier McKeeva Bush issued a terse statement late Monday saying that his proposed tax was “off the table and will
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I’m curious to note that the mere idea of having an income tax is causing mayhem in Cayman. Wonderful phrases are being used such as: Opponents argue that a social contract may have been broken That’s a typical offshore inversion of the normal use, of course. In the meantime: Anthony Travers, chairman of the Cayman
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Having just noted the crisis that the Cayman Islands is in, I thought it worth adding a little more background on the place and the problems it causes. The following comes from the Tax Justice Network report on Cayman produced to support the Financial Secrecy Index and published on the Secrecy Jurisdictions web site. Read more, here. It’s
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