PPM too quick to sign FATCA deals, says Bush

| 12/02/2014

(CNS Business): Opposition Leader McKeeva Bush has criticised both Premier Alden McLaughlin and Financial Services Minister Wayne Panton for being too quick to sign the Foreign Account Tax Compliance Act deal with the US and a similar deal  with the UK at the same time as committing to the revelations of beneficial ownership. Bush, the former minister of finance, said there were ongoing problems with the US act on foreign accounts which may lead to further delays in the already postponed implementation and the CIG didn’t need to rush to sign on the dotted line so far ahead of it coming into effect. He also accused the two men of not having the backbone to stand up for the Cayman Islands and the sector they both profited from in the past. Read more on CNS Business

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