Statement on U.S. Tax Compliance and the Foreign Account Tax Compliance Act
25 July 2012 The Ministry of Finance is issuing this statement in relation to recent public comments made in relation to the US Foreign Account Tax Compliance Act (FATCA). The US Government has always expected its citizens, wherever they live…
RCIPS answers iNews Cayman’s question concerning helicopter
Further to iNews Cayman’s request for comment from the RCIPS re the sale of the police helicopter, following the statement by the Honorable Premier yesterday (25) a Police spokesperson said: “The sale of the police helicopter has neither been discussed,…
WestStar in agreement with outside company to sell majority stock
WestStar has confirmed that it has entered into an agreement with an outside company to sell a majority of its stock. It is important to note that prior to consummation of this agreement regulatory approval must be obtained. While we…
Why we should worry on the rise and fall of oil
Now why should you worry about the price of oil if you’re not buying and selling oil? If you’re neck deep into forex, there’s one good reason. Many of the most important currency trading pairs rise and fall on the…
UWC’s Blue Jack Night fundraiser on Sat (28)
The UWC Cayman Islands is holding its signature fundraising event, Blue Jack Night, this Saturday, with all proceeds going towards the education of outstanding students at one of 13 United World College campuses worldwide. UWC Cayman Islands is a charitable…
CUC press Release entitled “Outage Update”
Electricity has been restored to all customers across Grand Cayman. As you are aware, we experienced a major power outage yesterday (July 25th). This outage was the result of a fault which occurred on the transmission system at the Hydesville…
The Dollars and Sense of Tax Havens: The Necessity of the Offshore Economy
by Andrew Barr The recent controversies over the lack of transparency of Mitt Romney’s 2012 tax returns and the existence of several offshore accounts in the Cayman Islands and Switzerland raise important questions on the role tax havens play in…
Court expert faces arrest after fleeing Malta, contaminates evidence
The Magistrates’ Court was told today how a British national, who was appointed as an expert to retrieve and examine 300 security tapes from the Casinò di Venezia in Birgu, had decided to leave the island, abandoning the evidence and…
Betting terminals: dangerously addictive? A 20second game makes huge profits
Two related stories by Alice Ross appeared on the Bureau of Investigative Journalism (BIJ) about the surge in turbo-charged roulette wheels that have transformed UK’s betting industry. We publish both of them (one is an infographic) as a warning in…
Altera and IRS fight involving employee stock-based compensation and a unit in Cayman Islands
Altera Corp and the Internal Revenue Service are battling in U.S. Tax Court over the semiconductor maker’s handling of employee stock-based compensation and a unit in the low-tax Cayman Islands. The dispute centers on “transfer pricing,” or how multinational companies…
