Caribbean Net News, 6 Mar 2009, Sir Ronald Sanders
It is a classic case of “passing the buck”, but Caribbean jurisdictions that offer offshore financial services will be the victims of lax regulation by the OECD countries -- the UK and US in particular.
Britain’s Prime Minister, Gordon Brown, and the US Senate and Congress have both now shown their intention to close down offshore financial services which they call “tax havens”.
The G20 countries – none of which are jurisdictions considered as “tax havens” - will meet in London on April 2nd and on their agenda is the matter of “tax havens”. The discussion and its conclusions will take place without the benefit of any of the affected jurisdictions at the table. Among the missing “tax havens” will be all those I have named earlier from the Caribbean plus Switzerland, Luxembourg, Singapore, Malta, Cyprus, Panama, Hong Kong and a few others in Europe and the Pacific.
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