Once again the Tax Justice Network (TJN) has blamed us, along with other UK Overseas territories, with tax dodging executed by the major global corporations.

Today, this so called self proclaimed “Justice” organisation, published their Corporate Tax Haven Index. See iNews Cayman story published today “Introducing the Corporate Tax Haven Index 2019 – Cayman Islands placed third”.

We, along with The British Virgin Islands, and Bermuda, are listed as the top three jurisdictions in the world that have “aggressively undermined the ability of governments across the world to meaningfully tax multinational corporations”.

Have you ever read such bunkum?

Our tiny three islands have undermined world governments?!

Wow!

TJN estimate that we have played a large part in facilitating an estimated $500 billion in corporate tax dodging each year.

They’ve even come up with a nice bouncey slogan. It is time, they said, for new tax rules to ensure that corporations are taxed “where employees work, not where ledgers hide”.

“Where employees work, not where ledgers hide!” OMG.

Pity they couldn’t get it to rhyme. They should have invited my wife, Joan, to assist. That might have stopped them over taxing their brains.

Unfortunately, all of this is gobbled up by the large media outlets, who still call us the “notorious Cayman Islands”. Then they fill the general public up with headlines showing an unjust tax system that helps the UK’s Labour Party to jump on the band wagon.

Their big bass drum is already banging away.

Labour Shadow Chancellor, John McDonnell, said immediately after the release of the report:

“While Tory leadership hopefuls promise tax giveaways for the rich, a Labour government will implement the most comprehensive plan ever seen in the UK to tackle tax avoidance and evasion.”

Of course that will help unemployment?

As has been proved throughout the ages – it won’t. The big firms move out or downsize. Jobs are lost.

Heaven help us all in the OST’s if they ever get to power.

Listen to this sob from TJN’s chief executive, Alex Cobham:

“When our laws for taxing global corporations stop working, the global economy stops working for the vast majority of us.

“All around us we see inequalities go unaddressed, political extremism unchallenged and democratic institutions faltering – and the thread that runs through it all is a failure to defend progressive taxation.

“To curtail the corporate tax avoidance that costs hundreds of billions of dollars every year, governments must finally deliver international rules that ensure profits are declared, and tax paid, in the places where real economic activity takes place.”

A failure to defend progressive taxation?

Robin Hood. Robin Hood. Where art thou?

Will you, too, blame us and shoot your arrows, thus?