CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Dan Mitchell Warns Of Hedge Fund Threat In Bermuda

Dan Mitchell Warns Of Hedge Fund Threat In Bermuda

by Mike Godfrey, Tax-News.com, Washington

18 December 2002


Speaking to members of the Bermuda International Business Association (BIBA) late last week, senior Heritage Foundation fellow, Dan Mitchell warned that new US laws on hedge fund regulation could adversely affect the jurisdiction's burgeoning hedge fund industry.

According to the Bermuda Sun newspaper, Mr Mitchell, who was speaking alongside Center for Freedom and Prosperity (CFP) president, Andrew Quinlan, cautioned that although the furore over corporate inversions appears to be dying down in the United States, investing in hedge funds is viewed by many anti-offshore campaigners as merely another way to avoid taxes, and is likely to come under fire from legislators next year.

'I don't think it is as big a threat as the Johnson/Neal legislation,' he told BIBA members, referring to a piece of legislation put forward by Representatives Nancy Johnson (R-CT) and Richard Neal (D-MA) last year which sought to impose additional taxes on the U.S. subsidiaries of insurance companies based in low-tax jurisdictions.

However, he added that: 'I don't think it is something that Bermuda would welcome.'


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »