Cayman Leader Confirms Government Policy On Foreign Tax Evasion

by Amanda Banks, Tax-News.com, London

13 September 2002

Speaking on Wednesday in the Legislative Assembly, Leader of Government Business in the Cayman Islands, the Hon. McKeeva Bush stressed that there has been no change to government policy with regard to foreign tax evasion activities.

According to local news service, Cayman Net News, there has been 'controversy and debate on the whole question of the dual criminality rule in the Cayman Islands.' However, keen to quash any suggestion that government policy has altered on this issue, Mr Bush stated that:

'The Cayman Islands has always been a free market capitalistic orientated society and as such has maintained a policy of being a tax neutral jurisdiction, which imposes no direct taxation on any persons living in, or doing business in or from these Islands.'

'No legislation has been passed which altered in any way the application of the well accepted Dual Criminality rule. This rule provides that any foreign fiscal offences or any technical offences which may have been committed in the course of committing a foreign fiscal offence, will not become predicate offences upon which money laundering charges could be brought in the Cayman Islands.'

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