OUT OF MIND
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» My My, Hey Hey, Joe Rogan Is Here To Stay: Spotify Agrees To Remove Neil Young After His Ultimatum
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyToday at 10:59 am by PurpleSkyz

» Bombshell Document Dump on Pfizer Vaccine Data
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyToday at 10:43 am by PurpleSkyz

» Trudeau Slams Anti-Vaccine Mandate Truckers For Holding “Unacceptable Views”
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyToday at 10:38 am by PurpleSkyz

» US Gov’t to Fix Supply Chain Problem by Banning Unvaxxed Truckers from Crossing the Border
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyToday at 10:34 am by PurpleSkyz

» Florida Doctor: Families Sneak Ivermectin To Loved Ones In Hospitals With COVID-19, See Improvement
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyToday at 10:30 am by PurpleSkyz

» FDA Suddenly Pulls Monoclonal Antibody Treatment EUAs: ‘They are Not a Substitute for Vaccination’
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyYesterday at 2:39 pm by PurpleSkyz

» Olympic Gymnast dies right after Covid Vaccination – and the Media says: “Anti-vaxxer dies from Covid.”
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyYesterday at 2:16 pm by PurpleSkyz

» Meanwhile in Wisconsin...
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyYesterday at 2:10 pm by PurpleSkyz

» Truth is Not a Conspiracy
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyYesterday at 12:07 pm by PurpleSkyz

» Good People Doing Good Things – Dan Price
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyYesterday at 11:52 am by PurpleSkyz

» We The People
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyYesterday at 11:42 am by PurpleSkyz

» Father, Whose Doctor Said the Vaccine Could Kill Him, Denied Life-Saving Care For Not Taking Covid Jab
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyYesterday at 11:32 am by PurpleSkyz

» Planet Lockdown: A Documentary
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyYesterday at 11:27 am by PurpleSkyz

»  Military Vaxx Data Rocks DC: Catastrophic Injury Toll Exposed at Sen Johnson Hearing
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyYesterday at 11:14 am by PurpleSkyz

» VAERS & Vaccines: What Media Will Never Tell You! by DH Jetson/TS Caladan
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyYesterday at 12:55 am by PurpleSkyz

» Astronomers Detect Rare 'Missing Link' Black Hole in Our Closest Galactic Neighbor
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyTue Jan 25, 2022 1:15 pm by PurpleSkyz

» We Are Being Prepared for a False Flag Alien Invasion
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyTue Jan 25, 2022 1:12 pm by PurpleSkyz

» UFO NEWS ~ Fiery Red Orb Over Brazil & Triangular Shaped UFO Over California plus MORE
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyTue Jan 25, 2022 12:48 pm by PurpleSkyz

» ‘How do you even trust them?’: Aaron Rodgers fires back at Biden after president orders QB to ‘get vaxxed’
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyTue Jan 25, 2022 11:24 am by PurpleSkyz

» Toronto man says Pfizer’s COVID-19 vaccine KILLED his healthy, athletic 17-year-old son
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyTue Jan 25, 2022 11:21 am by PurpleSkyz

» Canadian Truckers’ Freedom Convoy to Ottawa Is Underway
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyTue Jan 25, 2022 1:24 am by PurpleSkyz

» 100s of Published Reports of Post-Vaccine Medical Distress (Part 1)
CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS EmptyTue Jan 25, 2022 1:20 am by PurpleSkyz

You are not connected. Please login or register

OUT OF MIND » THE INSANITY OF REALITY » GOVERNMENT & THE NEW WORLD ORDER » CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS

CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS

Go down  Message [Page 1 of 1]

PurpleSkyz

PurpleSkyz
Admin

Sorting out the crazies…and other ruminations

The Fifth Column







  • Home
  • About Kstreet607
  • Commentary
  • The Fifth Column of Insanity
  • Trayvon Martin










« Your comprehensive answer to every Sandy Hook conspiracy theory

Limbaugh Tarnishes Civil Rights Movement To Advance Pro-Gun Agenda »






CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS





CAYMAN ISLANDS TO DISCLOSE HIDDEN COMPANIES AND DIRECTORS Caymans

The source for this story is CNBC. Apparently this effort involves hedge funds only.

Class Warfare Exists


The Cayman Islands has been just one of a handful of countries which
are primarily used for tax evasion by exploiting the tax code and the
protections of foreign governments. As a British territory – their laws
are very much under the influence of what Britain does and doesn’t
want. Which makes it all the more interesting that the Cayman Islands
monetary authority is now going to be disclosing a laundry list of
previously hidden corporations and hedge funds using the Caymans for
cover from transparency. In addition – the names of those involved will
be visible for the first time as well which will make it that much
easier for Western governments to identify tax schemes. This is an
assault on tax cheats – mainly corporations and wealthy individuals.

The Caymans Islands is just the latest country to submit to banking transparency in a very long recent list.

CNBC has the news HERE:

The British overseas territory, which wants to shed its
reputation for clandestine financial activity, is introducing sweeping
reforms that will make public the names of thousands of previously
hidden companies and their directors.

In proposals sent to Cayman-based hedge fund businesses and seen by the Financial Times,
the islands’ powerful monetary authority, CIMA, has outlined plans to
create a public database of funds domiciled on the island for the first
time. The database will also list funds’ directors, pending an ongoing
consultation process due to close in mid-March.

CIMA, which did not respond to a request for comment, also plans to
require directors to undergo a vetting process to ensure they are
qualified to act as fiduciaries for investors.
Since President Obama was sworn into office – the American government
has actively pursued breaking tax havens. Many banks in Switzerland
won’t take American clients because of the pressure being exerted on the
Switzerland government and the mini banking cartel that exists in
Zurich (source).
For the first time in modern history – Switzerland is actively
disclosing personal banking information to the American authorities (source). This can only be the result of leverage which the Obama administration is exerting to its fullest.

The Obama administration entered into a treaty with Ireland – another
tax haven – to share financial information in December of 2012 (source);
it’s notable that this happened after Obama won re-election. The Obama
administration has negotiated treaties with Hungary, Switzerland and
Luxembourg for open and transparent disclosure between governments to
catch tax cheats – all three of these countries are used as tax havens.
Currently – these treaties are being held up by Rand Paul in the Senate
(source).
In short – the Obama administration has been on a worldwide mission to
destroy tax shelters that the wealthy use to avoid paying their taxes.

The decision to make the Caymans more transparent is either the
result of the LIBOR scandal or the American government requesting
changes from the Brits. The British is one of America’s closest allies
and I suspect they would be willing to entertain concerns shared by the
Obama administration. We really don’t know why the British pushed this
through.

The Offenders

If they’re a multi-national corporation or a hedge fund – they’re
probably abusing tax law by using offshore tax havens. U.S.
corporations have anywhere from $1.4 to $2 trillion in cash just sitting
in offshore banks right now (source).
They have gamed the system and the only way they can bring the money
back is if they pay a higher tax rate. They’re putting tremendous
pressure on politicians to give a “one time tax holiday” just like the
“one time tax holiday” the Bush administration allowed for in 2004.
That would be a disaster and would reward tax evasion.

Microsoft avoided paying $7 billion in taxes from 2009 to 2012 according to a Senate committee HERE.

CNBC highlights how Halliburton has been able to do this HERE:

U.S. law does ban virtually all commerce with the rogue
nations, but there’s a loophole that G.E., Conoco-Phillips and
Halliburton have exploited: The law does not apply to any foreign or
offshore subsidiary so long as it is run by non-Americans.

“These three companies, as far as we were concerned, appear to have
violated the spirit of the law,” says Thompson. “In the case of
Halliburton, as an example, they have an offshore subsidiary in the
Cayman Islands. That subsidiary is doing business with Iran.”

That subsidiary, Halliburton Products and Services, Ltd., is wholly
owned by the U.S.-based Halliburton and is registered in a building in
the capital of the Cayman Islands – a building owned by the local
Calidonian Bank. Halliburton and other companies set up in this
Caribbean Island, because of tax and secrecy laws that are corporate
friendly.
Google has used the Cayman Islands and other offshore tax havens to
manipulate the tax code. In 2010 – they paid 2.4% on $60 billion in
revenues. Bloomberg wrote a must read HERE.

Facebook paid just .3% on its profits in 2011 thanks to utilizing offshore tax havens like the CaymansHERE.

Americans became much more aware of the loopholes used by the ultra
wealthy during the 2012 election precisely because of Mitt Romney’s
history of manipulating the tax code. We’ve written about that many
times but there is this one from the NY Times that makes it clear tax
avoidance using offshore tax havens like the Caymans is just how they do
business (source).

The Senate Banking Committee put out an excellent memo highlighting
how these corporations and ultra wealthy are manipulating the tax code
via offshore tax havens HERE; drug cartels and terrorist organizations use the same methods too btw.

Related articles



  • First
    Switzerland, now Cayman Islands will disclose list of hidden
    corporations and hedge funds, including names of those involved. Shares
    of popcorn, guillotines to skyrocket [Interesting] (fark.com)
  • Cayman Islands to name previously hidden companies (telegraph.co.uk)
  • Don’t be fooled by the headlines: Cayman is not giving up on secrecy (taxresearch.org.uk)
  • Secrecy of Cayman’s off-shore tax haven to be blown (rt.com)


Thanks to: http://kaystreet.wordpress.com



  

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum