Anti-tax haven campaigners plan trip to Cayman
(CNS): Anti-tax evasion activist groups in the United States are planning their next move in their campaign to to draw attention to corporate tax evasion and what they believe is lost revenue for tax coffers with a trip to Cayman. US Uncut and The Yes Men have launched a Kickstarter account (an on-line fund raising service) to help raise $10,000 by the end of this month to fund a fact finding mission to the Cayman Islands. The campaigners said that they intend to hire a video crew and head down to Cayman to see if they can get to the bottom "of the world's best kept tax secrets". The tax campaigners say that public services in the States should not be suffering cuts when they believe tax revenue could be sourced offshore.
Asking for donations to fund the trip, US Uncut founder Carl Gibson said, “The central problem of this whole thing is a system that allows companies to dodge nearly all of their tax obligations by registering, for example, two inches of space at an office building in the Caymans as an ‘international corporate headquarters’.”
With over two weeks still to go the group had managed to get just over US$1,055 in the first four days. The campaigners have also produce a spoof brochure for their 'Citizens Tax Cruise' trip with essential stop-offs on the tour.
This latest move comes on the heels of a spoof press release circulated in April by the activists from GEC which said the US corporaiton intended to donate its entire $3.2 billion tax refund to help offset cuts and save American jobs.
Category: Business
If they want to get the reall tax dodgers they need ot look at all the Caymanians with American passports that have not paid American taxes to support all the American shopping trips, schools for their kids, and medical trips. Its coming. Can't wait to see the comments then.
I am not sure I understand the logic of your post. U.S.taxes aren't used to support shopping trips and medical trips. They may be used to support public schools if you send your child to one. Caymanian children that go to school in the U.S. generally go to private schools.
I don't know why they are bothering to come and visit. Clearly they have already formed their opinions of Cayman and any "evidence" given to them is unlikely to make them change their opinions.
It seems undoubtedly they will make the evidence fit their opinions, rather than let the evidence change their opinions. So why bother visiting?
Delaware got nothin to do with US Federal Taxes – the IRS kind
Sounds like they are seeking to have a good tax-free all expenses paid tropical vacation to me. I wonder if they will pay taxes on the $10,000 they hope to have donated by the already over taxed contributors?
Please fund raise for the USA to send more money to Pakistan. They really appreciate it.
oh no bobo….roof startin' cavin' in. boy i tellin' you start gettin' rough out here man.rough man. no man me cannot believe this man.rough i tellin' you boy.once dem open up dem big lottery money hiding man i telling you man dem tings gettin rough for sure man.
I too am starting a fund to uncover the mysteries of the Greek debt downgrade and impending default. Also considering an up close and personal investigation of the Vatican, and an expose on French cheese. Donations can be sent to my personal bank account. I hope to raise $20,000 by mid August. To assure quality research, please give generously!
Welcome friends come spend that ten G's with us, eat drink be merry, tell all of your friends.
No, Michael Moore would be on our side
$10k wont get them very far on this island
I'm shocked Michael Moore won't be joining them. It sounds much like the rabble-rousing idiocy he likes to do. Expect, if they come, that businesses will be disrupted by silly stunts only because the people filming documentariesof this nature live by hyperbole and rhetoric. They forget that we live here to work and pay the bills, but instead often see us only as objects to catch on camera. I for one, hope that those of us who end up dealing with them treat them in a civil manner, but with undertones of the disdain their "project" will ultimately deserve.
I remember when I was growing up in Cayman there was so much cow- itch vines growing everywhere. Now when a little cow-itch would come in so useful there is none to be found.
In its place are all of those alien plants brought here from America to decorate the banking and condo developments.
USA,s problem is that they want to have dominion over the world. It is the modern day babylon and it must fall.
(1) they want to send troops to every country;
(2) they begrudge any country doing better than they
(3) The IRS behave as if they have a monopoly on money everywhere so they go to endless length to seize peoples assetts.
(4) Most of their people don't save 5% of their earning compare to country like ours. They "charge it" on credit cards
(5) we pay off our mortgages in this country, they refinance for the fun of it..
The $10,000 fund they are raising should be used to help those poor souls who sleep under the bridges at night and eat at soup kitchens run by religious organizations in their country
In the meltdown of the past four years they need all the money they can get to fund social programmes and are desperate. "a drowning man clutch at a straw"
A wonderful mix of crass generalisation and hammed up views from Fox News.
PS: Their mortgages are much cheaper.
Also, don't forget the billions of dollars the USA foolishly spends in foreign aid to @$$ backwards third world countries all over the world!
What we afraid of? Looking like Snooky goes to Rome. Keep it up there. Reality TV….Geeeeez
par·a·site par-uh-sahyt]
–noun
1.
an organism that lives on or in an organism of another species, known as the host, from the body of which it obtains nutriment.
2.
a person who receives support, advantage, or the like, from another or others without giving any useful or proper return, as one who lives on the hospitality of others.
3.
(in ancient Greece) a person who received free meals in return for amusing or impudent conversation, flattering remarks, etc.
Sort of like the Federal Government? Sort of like any government? Sort of like Obama's Mom who is on Welfare? Sort of like the millions on Welfare? Hmmm ..is it true only half or America pays taxes? Almost no Corporations pay taxes? Must be harder for people to get a free ride. Parasites? I think it's the other way around according to the dictionary.
Good luck in exposing the parasites.
They need to go on fact finding mission to Delaware New Jersey, the USA's own little Tax Haven.
Pot Calling the kettle black….
"Delaware, New Jersey"? I think the fact that you appear to think Delaware is in New Jersey probably is a valid reason to ascribe no value whatsoever to your views.
And he claims to be from New Jersey. lol. No wonder he is such a strong supporter of the UDP.
Yep, I'm from New Jersey, try to recognize a typing error when you see it well I guess the jokes on me, I can take it. But as for being a UDP supporter. I think not, I personally do not support any Government Party I think all politicians are cut from the same mold and have their own agendas to look out for their own interests.
No Support for the UPD, PPM, Republicans or Democrats from here.
Delaware imposes no income tax on either LLCs or S corporations.
Delaware imposes income tax on C corporations only to the extent that income is earned in the state of Delaware.
Delaware imposes a low franchise tax for small companies.
Delaware imposes no tax on capital stock or assets.
There is no sales tax in Delaware.
There are no Delaware capital shares or stock transfer taxes.
There is no state inheritance tax on stock held by nonresidents of Delaware.
Looks like the TAX EVASION is in Delaware
Sorry bout that, I mistyped New Jersey, I not in New Jersey….
This one should be VERY VERY interesting to watch play out.
1 – The Premier will give orders to keep them out.
2 – If they are refused entry, just watch and see the end result. Quite likely Tourism boycotting. Big stink coming. I can smell it.
3 – If they are allowed in, then watch the offshore sector scramble.
4 – If they are successful in "getting to the bottom of the worlds best kept tax secrets", then the walls of that 'City of Gold' comes crumbling down.
Negative impact to Cayman or not, I say it's time to change the play in this game where the 'RICH gets RICHER as the POOR gets POORER'…
SO WELCOME. 🙂 Sooner or later it was coming anyway.
Keep dreaming.
Looking for a vacation I say and want to sell a video
Delaware is where they should go but they probably haven't even heard of the place because the Democrats don't know of it. They need to tell Bush and Obama to give them the billions they gave to the wealthy in bailouts – rich giving to the rich.
Hey, don't be diggin' round in my trash…nothing in there except boogers and old chicken bones
That will be like Jehovah's Witnesses coming to the door. Hide and pretends nobody's home (sorry Jehovah's Witnesses )
I think the Cayman Government should pay for the trip however it almost sounds like the whole "donate, the rapture is coming" type of free trip to the Caribbean they are organizing.
Throw these theives off the Island, charletans. As if American joblessness had anything to do with Cayman. Try to look and start with the marxists policies that Government is pushing. Spending trillions (of money they don't have!) within months and Cayman is somehow responsible for the job loss??
"Theives" is a pretty harsh word….. I think "hucksters" would be a better fit. There's alot more tax-dodging inside the U.S. than you will find here. But……… if they can find suckers willing to give them money for a nice vacation,,,,, why not? My prediction: They will have a nice vacation and find nothing.
No I'm not kidding, the US gov are the biggest theives in the world, and so are their proponents i.e. these characters. they are simply thugs who will try to intimidate, guilt and bully on behalf of the us gov. Its state sponsor financial tyranny.
Talk about calling the kettle black. Next you'll be telling everyone that Cayman makes its money on hard work and discipline.
"Marxist policies"?
Now that is just ignorant on several counts including economics, philosophy and history…
but I agree that nothing to do with Cayman.
"Throw these theives off the Island, charletans"
I agree, get rid of the churches!
I doubt that any exempted company incorporated in Cayman advertises Cayman as its "international corporate headquarters". It is simply its registered office. Same deal with Delaware. Perhaps they can start their fact-finding trip there.
The idea that closing down Cayman will men that revenues floods back into the IRS is delusional.
Of all the things people protest about this one confounds me the most. Do they really believe that tax efficiency is wrong? Or that corporations should voluntarily pay more tax? Why? Do they think the US government is going to spend it on schools and libraries?
It's far more likely they'll spend it on defence or bailouts or give it back in tax breaks for the rich.
A Company on the other hand might be able to employ an extra 100, 1000, 10,000 people because of its tax efficiency.
Plus, legal use of low tax jurisdictions actually boosts the US and global economy. Some businesses wouldn't even be viable without places like Cayman, and lots of business would have to leave the US altogether if they couldn't find some way to reduce their tax bills. Would that make these people happy?
Someone should point out that 100% of the donations they are asking for is likely to come from the untaxed proceeds of some commercial enterprise. If they really mean what they say they should cancel their "fact finding" holiday and donate it to the IRS. Perhaps they can do some research and policy analysis instead.
But stop!….Dey check wid Mac Mac or Ju Ju bout dis?
Una call Immigration….put out ABP on um….quick time Bo Bo.
Great way for a bunch of dummies to get a FREE vacation.
not unlike our numero uno
I just hope Immigration grab these clowns at the airport and send them back on a one-way ticket to Delaware
why?…what you afraid of?
They're not running a 'fact finding' mission, just a publicity stunt for their organisation and its political backers.
This isn't fear, just a desire to stop any more stupid people messing up Cayman.
if you have nothing to hide then you have nothing to fear…..
Perhaps you can follow them around and report on their experience. Should be a laugh riot watching them film in the lobby of Ugland House.
Someone from Immigration and The Financial Crimes Taskforce need to start tracking these losers now. They are coming to slander our system and when they obtain a work permit and bring camera crews here, it will be an illegal act.
This grassroots group of morons need to stop listening to Carl Levin and realize that Delaware is an ONSHORE tax haven and they should fix their own problems at home first.
You only need to look up anti money laundering to see:
Cayman = Number of STRs (suspicious transactions) received and time frame: 308 in 2010, but the USA pointing the finger at Cayman???
From the "KNOW YOUR COUNTRY" REPORTS:
http://www.knowyourcountry.com/usa1111.html
**A problem not addressed in the GAO report involves U.S.
incorporation practices. Right now, states formabout 2 million U.
S. corporations each year without knowing who is behind them, in
violation of an international AML standard requiring countries to
identify the beneficial owners of the corporations they form. In
2006, at a Subcommittee hearing on this issue, FinCEN testified
that it was considering proposing a regulation to require states to
identify the beneficial owners of the corporations formed under
their laws. At the time of the hearing, the United States was facing
a July 2008 deadline set by the leading AML international body,
the Financial Action Task Force on Money Laundering, to
strengthen its incorporation practices. FinCEN, however, never
proposed the regulation, the United States missed the deadline,
and it is now out of compliance with the international AML
standard. In the absence of any regulation issued by FinCEN on
this matter, Levin has introduced legislation, S. 569, to require
states to obtain beneficial ownership information for the
corporations theyform.
This is by far the best post on this topic (which included a couple of mine). Turn the joke on them. Ask them at each turn "what did you find that you didn't already know?". Ask them if they plan to visit Delaware. Ask them if the GAO has not already done a such a fact finding exercise and it they have read its report? Ask them if this is not just a cheeky way of having a vacation at others' expense. Expose them for the total **ses they are.