Forbes.com recently published an article titled World's Best Tax Haven that can be viewed here
Cayman Finance Chairman Anthony Travers submitted the following reply on their website:
Mr. Murphy is recommending where your readers can locate anonymous accounts offshore and evade tax. But he should not recommend the Cayman Islands.
The Cayman Islands have full tax transparency and proactive reporting with all 27 European Union Treasury Departments. Cayman has an ever-expanding network of Tax Information Exchange Agreements (TIEAs) ensuring tax transparency with the US, the UK and most major continental European jurisdictions.
Individuals or corporations who follow Mr. Murphy's recommendations and establish accounts in the Cayman Islands will find state of the art due diligence, anti-money laundering and tax transparency. If they are looking for a tax haven they need better advice than that provided by Mr. Murphy and the Tax Justice Network.
Regards,
Anthony Travers
Chairman
Cayman Finance
Other responses posted anonymously on the Forbes site had this to say about the article in question:
"What about the right of the individual to privacy?
The implication in this article is that if you want privacy, there must be something nefarious in your motives. Typical big government mentality.
Aside from that, a pretty poor article with worthless/misleading advice."
"This is very poor journalism. It represents a very distorted, extreme and inaccurate view of how finance centres work. Next time please go to more than one (credible) source for your information. I expect better of Forbes."