Thursday, 21 August 2014
Last updated 10 hours 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.
Aug 4 2014 | 7:42am ET
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The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note