Tax haven seeks respect

| 24/05/2009

(CQ Politics): With President Obama pledging to crack down on offshore tax havens, it was no surprise that the Cayman Islands Financial Services Association hired a Washington lobbying firm to look after its interests. The firm Quinn Gillespie & Associates has a reputation for effective — and quiet — diplomacy but its Caribbean client seems interested in anything but quiet. Quinn Gillespie helped Travers publicize a sternly worded letter to the president on the subject, but says his views should be taken in context. “He doesn’t know anything about the United States,” a staffer with the firm said.

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  1. Patricia McMurray says:

     

    In a call following an interview with the CQ, my words were no doubt imprecise.  What I intended to convey was merely that Mr Travers — indeed, all of us involved on behalf of the CI — do not understand the insistence of some in the US that the CI are a tax haven when in truth they are not.  It has nothing to do with ‘understanding the U.S.’, but rather with our bafflement that some in the States utterly ignore the full transparency the CI has with U.S. tax authorities and seem to do so with the purpose of inaccurately and unfairly equating the CI with jurisdictions like Switzerland, which, because they are not transparent, can reasonably be characterized as tax havens.  The CI is not one – and those here in the US who speak so loosely of the CI are doing both the CI and US taxpayers a real injustice.