Letters from the Editorial Board

Letters from the Editorial Board

The world is much better

Most of the news deals with disaster, tragedy, misery or sexual misbehavior - because that is what sells newspapers and attracts eyeballs or ears...

Onshore responsibility and the ‘invisible hand’

Anti-offshore advocates regularly make the point that jurisdictions such as the Cayman Islands are to blame for the fiscal woes of their respective governments be this in the UK, USA or elsewhere. There continue to be several weaknesses in their arguments but it has also been a more than curious observation that their advocacy efforts focused more abroad than at home.

 

The ambivalence of Bermuda immigration

In order to continue to service international business, it will always be necessary to attract, and retain, sufficient non-Bermudian professionals from abroad.

 

Top marginal tax rates have declined since 1980

Plus ca change? Yes! And mostly for the better

Trade wars, Brexit, climate change, and job-stealing robots. It is easy to think that the world is descending into chaos. But while there are...

The future of tax reform:

On 6 November, 2012, after approximately $6 billion was spent by candidates and political groups, United States voters decided to keep the status quo. Barack Obama won re-election and will serve as president for another four years.   

 

Operation Choke Point

American officials have been watching the financial sector around the world in an effort to detect and stop a number of bad activities.  These...
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More than a bubble

Ten years ago, massive uncertainty roiled financial markets. Major firms collapsed or teetered on the edge of insolvency. Asset values plunged. Every TV show...

What You Give and What You Get:

As is well known by now, the United States enacted a tax reform in 2010 known as the Foreign Account Tax Compliance Act, which seeks to end global tax evasion by Americans through the use of offshore bank accounts. 

 

What the taxman sees

That turmoil will be occurring in a world where there is already significant upheaval on the horizon from the OECD’s Base Erosion and Profit...
A hand stopping some falling dominoes from continuing on to two more lines standing of dominoes

Before the next crisis

These should be the best of times. World poverty is at a record low, and world incomes are at a record high. People in...

IFCs in the international financial architecture

The world of offshore has long been under attack and with each new wave of regulatory changes the end of small international financial centers is being decried. But so far IFCs have proven extraordinarily resilient.  

 

Is the global fiscal crisis over?

The growth in relative government spending in almost all countries is largely caused by growth in government pension and medical care programs and other...
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Finding common cause for offshore jurisdictions

At the end of January, Pierre Moscovici, the EU Commissioner for Economic and Financial Affairs, Taxation and Customs, penned an op-ed on “tax evasion...

Substance over form:

This year marked a turning point for international financial centers (IFCs), especially those that are British Overseas Territories (BOTs) and Crown Dependencies (CDs), in terms of the future landscape on which they will compete, cooperate and provide their services.

 

Fighting populism by tempering bureaucratic centralization

Blaming outsiders for economic maladies appeals to base human instincts evolved over millennia to engender beliefs that the economy is zero-sum: one person’s gain...

A tax agenda more than two decades in the making

For the past twenty-plus years, international financial centres have been dealing with harassment and pressure from high-tax governments. Working primarily through the Organisation for...

The future of international financial centers

International financial centers like the Cayman Islands have experienced over two decades of increased international pressure in the form of new regulation and greater demand for transparency.

 

Stopping the tide

A year ago, the world looked set to continue on its post-World War II path to ever closer economic integration. The European Union seemed...

The offshore as a black hole – fact or fiction?

From a financial perspective, many consider that when money goes offshore, it enters a black hole. Bank secrecy, public corruption and the constant barrage of films and books which put the offshore in a bad light contribute to this image. 

 

Bring on the Robot Revolution

The story of human development is a story of disruptive – and liberating -- innovation. More particularly it is a story of new tools....
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