Cayman unfazed by proposed US tax reforms

(CNS Business): Cayman’s financial services industry believes that even if they ever get off the ground in the first place, President Obama’s recently published proposals for reforming the US business tax system will have minimal impact on business in the Cayman Islands and may even be “highly problematic” for US corporations, according to Anthony Travers, Chairman of the Cayman Islands Stock Exchange. “Without a far more radical overhaul of domestic US tax legislation than is suggested by the marginal tinkering of this report, opportunities for legitimate tax structuring through jurisdictions like the Cayman Islands will remain,” he said. Read more on CNS Business