The Cayman Islands, which had previously been known as a safe haven for it's freedom from taxation on income, property, and business, is now receiving pressure from the British government to incorporate new tax laws on residents and corporations. Obviously business owners and residents reject the idea, but W.M. Bush, the leader of the Cayman government, is struggling to find a solution to the problem of their increasing debt, while remaining loyal to businesses and residents under their current "no-tax" laws. However the British government as well as the U.S. government are also concerned about the lack of transparency in their financial dealings, as they have been under scrutiny for tax scandals in the past.
Source
By: Allison Zamora
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment