Tag: tax haven
Tax report puts Cayman in negative spotlight
(CNS): The report published Friday by the Tax Justice Network identifying the Cayman Islands as the single biggest jurisdiction for global tax losses led to a flurry of negative headlines over the weekend. The government issued a brief statement Friday evening, in which officials said that Cayman supported fair tax systems and noted that it […]
Cayman top of list for global tax losses
(CNS): Public purses around the world are losing over $427 billion in tax each year to international corporate tax abuse and private tax evasion, according to a new global report. The State of Tax Justice 2020, the inaugural edition of what is to be an annual report by the Tax Justice Network, found that more […]
UK territories blamed for bulk of global tax dodging
(CNS): The UK’s overseas territories are largely responsible for the breakdown in the global tax system and helping major global corporations dodge their tax obligations, according to a new report released Tuesday. The British Virgin Islands, Bermuda and the Cayman Islands are listed as the top three jurisdictions in the world that have “aggressively undermined […]
Cayman dodges tax list but pressure persists
(CNS): The Cayman Islands government has welcomed the news that this jurisdiction has avoided the latest European Union tax blacklist, but officials have indicated that the pressure is still on as the EU continues to express further concerns about economic substance requirements for collective investment vehicles (CIVs), otherwise known as funds, and one of the […]
Premier’s delegation begins Brussels meetings
(CNS): Premier Alden McLaughlin and the Cayman delegation he is leading to Europe began discussions on Monday with staffers from various EU commissions in Brussels about the blacklisting threats. The delegation began by meeting David Boublil, a member of the Cabinet of Pierre Moscovici, the Commissioner for Economic and Financial Affairs, Taxation and Customs; Gints […]
Will Smith’s advice on taxes: Pay them!
(CNS): “Pay your taxes,” Hollywood legend Will Smith advised Cayman Islands hedge fund professionals at the Cayman Alternative Investment Summit this month. Reflecting on the very early days of his career after his first hit records when he fell foul of the US tax authorities, leaving the ‘Fresh Prince’ flat broke again, Smith told the […]
US overtakes Cayman in financial secrecy index
(CNS): The United States has pushed Cayman into third place in the global financial secrecy charts from the Tax Justice Network. The US is now listed as the second largest tax haven in the world, behind Switzerland. The TJN’s 2018 Financial Secrecy Index (FSI), produced in partnership with Transparency International and the Financial Accountability and […]
