Financial Services Minister Hon. Wayne Panton dismisses a recent report naming Cayman as the second-worst tax haven in the world…
In a media statement today Mr Panton says a report from international development charity “Oxfam” is inaccurate and is being used to influence public policy.
He says with our “demonstrable history of upholding international standards and engaging with foreign authorities on anti-tax evasion measures and against other serious crimes it is wholly inaccurate for oxfam to include Cayman on its “tax haven” list.”
Earlier this year Oxfam supporters protested outside the Anti-Corruption Summit in London targeting Overseas Territories like Cayman and now they have issued this report continuing their assault through their list of ‘tax havens’ for their ‘tax battles: The dangerous global race to the bottom on corporate tax’ report.
But Mr Panton says once you’ve read the report, particularly the methodology the public will understand certain organisations’ continued efforts to exploit misinformed public opinion.
Mr Panton adds Cayman is compliant with international requirements.
Oxfam named Bermuda the world’s worst tax haven and on Twitter today said there’s no error in its methodology.
For the full report click here.