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July 22, 2014

Breaking News:

BREAKING: New Coal Disaster In West Virginia -

Tuesday, February 11, 2014

U.S. Hostage Freed by Colombia’s FARC Rebels (Video) -

Monday, October 28, 2013

Here’s Why The Zimmerman Verdict Matters -

Sunday, July 14, 2013

BREAKING! UK Government Spied On Allies At TWO G20 Summits (Video) -

Sunday, June 16, 2013

Swiss Support Tougher Asylum Legislation as Refugee Numbers Spike -

Monday, June 10, 2013

American Woman Killed in Syria Fighting for Terrorists, Syrian TV Claims (Video) -

Friday, May 31, 2013

CO2 in the Air Reached its Highest Level in Human History -

Friday, May 10, 2013

Terms of the New Abortion Bill Agreed by Irish Cabinet -

Wednesday, May 1, 2013

Boston In Lockdown As Manhunt Intensifies -

Friday, April 19, 2013

2 Dead, Dozens Injured After Boston Marathon Bombing -

Monday, April 15, 2013

Fast Food Workers in New York Stage Surprise Strike -

Saturday, April 6, 2013

N. Korean Rhetoric Provokes Missile Shield Deployment -

Wednesday, April 3, 2013

Eyewitness Accounts from Meiktila Massacre -

Wednesday, April 3, 2013

Sudan to Free All Political Prisoners -

Monday, April 1, 2013

A New Free Press In Burma Juxtaposed With Genocide: The World Will Be Watching -

Friday, March 29, 2013

Pressure Builds to End Ethnic Violence in Myanmar -

Friday, March 29, 2013

Activists Demand Action As Further Genocide Looms -

Tuesday, March 26, 2013

Cyprus Reaches Last-Minute Bailout Deal With EU -

Monday, March 25, 2013

Myanmar Muslims Brace for Possible Genocide -

Sunday, March 24, 2013

IMF Chief Lagarde’s Home Searched over Tapie Scandal -

Wednesday, March 20, 2013

Cayman Islands to Disclose Tax Shelter Companies

cayman_cnt_6nov09_istock_b

After decades of secrecy, the tax-haven country is considering a public database that will make the names of thousands of previously hidden companies and their directors, public.

CIMA, the three-islands’ monetary authority has outlined plans to create a public database of funds domiciled on the island for the first time, reports The Telegraph.

The island nation is a group of three islands; Grand Cayman, Little Cayman and Cayman Brac in the Western Caribbean Sea. The country is a British dependent territory and has gained popularity around the world for its offshore financial centre. The Cayman Islands is the world’s fifth (5th) largest financial off-shore centre for tax sheltering activities.

Tax shelters have been described as helping to reduce tax liabilities, tax planning and asset protection. Many USA companies, including Facebook, have been using tax-shelters to avoid paying more taxes.

Since the onset of the worldwide financial crisis, key financial regulatory institutions have been asking tax-haven countries to be more transparent in their operations.

According to RT News, EU Tax Commissioner Algirdas Semeta gave an ultimatum to Switzerland on Thursday, saying that “the country has six months to make its tax legislation more transparent in terms of disclosing data on companies and enterprises, and make it comply with EU laws”

Tax Justice Network USA reports that the world’s wealthy have between $21 trillion and $32 trillion stashed offshore which does not include real estate, yachts, thoroughbreds or gold bricks that could also increase the number.

Image Credit: www.cntraveller.com

Emine Dilek (160 Posts)

Publisher/Managing Editor: Progressive Press. Contributing Editor: WVoN-Women's Views on News. Columnist: Palm Beach Woman Magazine. Former executive producer and radio host: WVR -Women's Voice Radio, Human Rights/Peace Activist, Aspiring Author/ Journalist/ Poet/ Blogger. Emine also appears as a revolving guest on PNN radio show -international political analyst-, and had been a guest on Liberal Fix and Brian Hammer Jackson Show. Her articles have been published in various publications such as The Vibe UK, The New Agenda, W.E.A Women @ Work, Amazing Women Rock and ICAHK.