Letters from the Editorial Board

Letters from the Editorial Board

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....

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...

Luxembourg Leaks –

On Nov. 5, 2014, the International Consortium of Investigative Journalists (ICIJ) published an investigatory analysis based on a confidential cache of tax agreements approved by Luxembourg tax authorities.  

 

The future of offshore financial centres: Reputational management

Those who work within the industry or are familiar with the various jurisdictions know that this negative image actually bears little relation to reality.   

 

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...

What does the future hold for IFCs?

“Little else is required to carry a state to the highest degree of opulence from the lowest barbarism”, claimed Adam Smith, “than peace, easy taxes and a tolerable administration of justice.”

 

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...

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.

 

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. 

 

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.

 

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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...

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.   

 

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Global economic policy in the era of Trump

Donald Trump has been a never-ending source of controversy since becoming president, but his ascent to the White House has not caused the collapse...

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.

 

The future of offshore financial centres:

 If you were to carry out a survey of the articles published by pro offshore writers, you would very likely find that the vast majority of them either blame external factors for the challenges faced by OFCs or place these external factors at the heart of their success. 

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...
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...

Immigration and IFCs

Many of the smaller countries competing in financial services – including Cayman – have struggled over the years to find a balance on immigration policy.  If it gets it right, Cayman will have a significant advantage over other IFCs, who are also struggling to find the right balance in their immigration policies.

 

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.  

 

Global financial reform and the role of the IMF

Since the onset of the global financial crisis of 2007-08, there has been much debate about the reforms that are needed to make the international financial system more resilient to the onset of financial crises through improvements in what has come to be known as the international financial architecture (IFA).   

 

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