Saturday, 24 January 2015
Last updated 1 day ago
Mar 23 2010 | 3:22am ET
Direct taxes would be a bad idea in the Cayman Islands, domicile of approximately 80% of the world’s hedge funds, a blue-ribbon panel has said.
The Miller Commission, headed by former U.S. Federal Trade Commission Chairman James Miller, warned that imposing direct taxes could imperil the islands’ financial services industry.
The commission was created at the behest of the British government, which last year approved the Caymans’ request to exceed its debt limits.
“Our position is, and will continue to consistently be, that we do not believe that direct taxes are good for this country,” McKeeva Bush, the Cayman prime minister, said.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…