Kenneth Rijock

Kenneth Rijock

Wednesday, September 9, 2015

OFFSHORE TAX HAVENS NAMED BY DISTRICT OF COLUMBIA CRY FOUL


The District of Columbia, for the benefit of those readers not from North America, is the Capitol District of the United States, where Washington is located. It is not a state, and its representative in the US Congress has no vote. So why are Caribbean offshore financial centers screaming bloody murder ?

DC, as it is referred to by most Americans, has a Council; this legislative body, on August 11, 2015, issued its own blacklist of tax havens, as a legislative act. It named & shamed thirty-nine of them, to be precise, and it was for the sole purpose of educating the business community. Unfortunately, sometimes the truth hurts.

Representatives of Bermuda, the Bahamas, and the Antigua-Barbuda have let it be known publicly that they weren't happy with the Council's action, and have stated that times have changed, and that they no longer belong on such a list. One diplomat even complained to the US Congress.

Readers who wish to review the complete text of the Council's designation, including the names of the remaining offshore jurisdictions that the Council has designated as "tax havens" may wish to access the relevant information, which can be found here*. Go to page 118 of the Act.

The District of Columbia
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*D.C. Act 21-148 ( August 11, 2015)








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