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Article: US senators demand probe.(CAYMAN ISLANDS)(Government Accountability Office to investigate business reporting of companies)(Brief article)
- Article from:
- Caribbean Update
- Article date:
- July 1, 2007
CopyrightCOPYRIGHT 2007 Caribbean Update, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The leaders of the US Senate Finance Committee have asked the Government Accountability Office to investigate a five-story building in the Cayman Islands listed as the address of nearly 13,000 subsidiaries of companies, many of them US-based, reports Bloomberg (June 6, 2007. Committee chairman Max Baucus, a Montana Democrat, and Iowa Republican Charles Grassley, the top Republican on the panel, said they would use the GAO's findings to better understand how companies use offshore havens to reduce US liability. The Ugland House in George Town, the capital of the tax-free Cayman Islands, ...