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Article: US Lawmakers Now Agree with Cayman Approach to Tax Transparency.
- Article from:
- Investment Weekly News
- Article date:
- November 14, 2009
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Cayman Finance, representing the financial industry based in the Cayman Islands, today congratulated Chairman Max Baucus of the Senate Finance Committee and Chairman Rangel of the House Ways and Means Committee on their plan to tackle offshore tax abuse through increased transparency and enhanced reporting requirements. The new comprehensive proposal does away with the damaging features of Senator Levin's Stop Tax Haven Abuse Act, which would rely on "lists" and other provisions that would discourage corporations and other financial entities from conducting lawful business in Cayman and providing funding into the United States. "Cayman Finance commends Chairman Baucus, ...