Travers warns of moves against lawful tax avoidance

(CNS Business): Cayman Islands Stock Exchange chair Anthony Travers has warned that lawful tax avoidance may be in trouble because of a shift in the position of onshore governments towards the principle. Speaking on BBC Radio 4's flagship news show, The Today Programme, on Tuesday, the former chair of Cayman Finance said onshore jurisdictions no longer liked the idea of real tax competition, which is a function of domestic tax law. Arguing with the well-known anti-tax haven activist, Nicholas Shaxson, author of Treasure Islands: Tax Havens and the Men who Stole the World, Travers pointed to a switch in attitudes about legal tax avoidance in the US and the UK. But until tax competition was eliminated across the globe there was still a role for the Cayman Islands, he said. Read more on CNS Business