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Article: Cayman Islands officials express concern about European taxation measure
- Article from:
- AP Worldstream
- Article date:
- November 19, 2003
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AP Worldstream
11-19-2003
Dateline: GEORGE TOWN, Cayman Islands
Officials in the Cayman Islands say they are concerned about a new EU measure that would require the British territory to start taxing savings deposits or exchanging banking information with London.
The new EU Taxation of Savings Directive, approved in June, would require taxation of deposits in territories such as the Cayman Islands, or exchange of information to make that taxation possible, officials say.
"We believe the directive could undermine the Cayman Islands' continued financial self-sufficiency," Steve John, a London-based spokesman for the British territory, said Wednesday.
European officials introduced the new ...