{"id":12369,"date":"2011-10-13T09:51:13","date_gmt":"2011-10-13T08:51:13","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=12369"},"modified":"2011-10-13T09:51:13","modified_gmt":"2011-10-13T08:51:13","slug":"cayman-doesnt-get-the-paradox","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2011\/10\/13\/cayman-doesnt-get-the-paradox\/","title":{"rendered":"Cayman doesn’t get the paradox"},"content":{"rendered":"

Cayman News Service has reported<\/a>:<\/p>\n

Industry professionals have claimed that Cayman\u2019s recent placing as the world\u2019s top Specialised Financial Centre in The Banker\u2019s 2011 Ranking of Financial Centres for the third year in a row shows Cayman\u2019s true stance in the global financial arena. This top ranking falls against a different high ranking on the Tax Justice Network\u2019s financial secrecy index where Cayman came in as the second most secret jurisdiction in the world. \u201cThe Tax Justice Network thinks we are a loser and the international banking community thinks we are a winner \u2014 I think we all know whose opinion matters the most,\u201d Don Seymour, managing director with dms Management Ltd said.<\/p>\n

In the industry magazine\u2019s list, the Cayman Islands beat its second place competitor Guernsey by a clear 8 points, while Cyprus was in third place, Jersey fourth and the Bahamas fifth.<\/p>\n

Cayman Finance Chairman Richard Coles congratulated Cayman\u2019s financial services industry for the achievement.<\/p><\/blockquote>\n

I really find this\u00a0reporting\u00a0quite amazing. Don't they\u00a0realise\u00a0that the reports are in their own quite different ways assessing the same things? And that TJN is simple saying that what the bankers think is so\u00a0fantastic\u00a0is the secrecy that is so precisely placing a cost on the rest of the world in terms of tax lost, corruption facilitated, harm to real business done and gross financial instability threatening the well being of developed and\u00a0developing\u00a0countries alike?<\/p>\n

Sure they can celebrate one of these awards. But of they do they have to celebrate the other too. Bbecasue both say Cayman is fantatstic at selling the abuse offshore banking has transforemd into a product.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cayman News Service has reported: Industry professionals have claimed that Cayman\u2019s recent placing as the world\u2019s top Specialised Financial Centre in The Banker\u2019s 2011 Ranking
 Read the full article…<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":["post-12369","post","type-post","status-publish","format-standard","hentry","category-cayman"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/12369","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=12369"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/12369\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=12369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=12369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=12369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}