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Cayman is factually a place that is very commonly regarded as a tax haven. You appear to think that that near-ubiquitous reputation is because of some sort of
by jrflowers 3y ago
Cayman is factually a place that is very commonly regarded as a tax haven.
You appear to think that that near-ubiquitous reputation is because of some sort of misunderstanding?
Can you explain why you think the Cayman Islands does have that reputation? Is it the result of some sort of conspiracy? Angry people weaving tales to assail the reputation of the citizens of Cayman?
- deleted 3y ago[deleted]
- DelaneyM 3y agoMany people misunderstand the difference between legal tax mitigation and tax avoidance. If your country allows companies or individuals to not be taxed on assets they locate overseas somehow, that’s on your country, not on us. And it has nothing to do with the money being here. All we can do is ensure that money flows are transparent and legal, which we do. We put a lot of effort into being the world’s safest and best neutral third party location, and sometimes companies which are orchestrating tax mitigation schemes put money here while doing so. But they’re not putting money in Cayman to hide it, they’re putting money here because if you need to put money somewhere here is the easiest place to put it.
- Volundr 3y ago> If your country allows companies or individuals to not be taxed on assets they locate overseas somehow, that’s on your country, not on us. Who is blaming the Caymans? They Caymans is commonly used as a tax haven for US companies due to US laws. It's on the US to fix those laws. Correctly observing the Caymans is used as a tax haven does not imply the Caymans should change, and I'm not aware of anyone in the US calling for holding the Caymans responsible. I am aware of many calling for reform on the laws that make havening profits in a foreign country possible.