Saturday, 21st November 2009

 

6 May 2009 - Press Briefing

Low-tax nations slam US crackdown proposals

The Obama administration's proposed crackdown on corporate tax avoidance has triggered a furious reaction from low-tax nations used heavily by the multinationals that are the target of the US reforms, according to a report in the Financial Times.

Jan Kees de Jager, the Netherlands' finance secretary, expressed unhappiness over his country being highlighted by the US authorities along with the Cayman Islands, Bermuda and Ireland on Monday.

The planned amendments could have “unintended negative consequences”, Alden McLaughlin, a minister of the Cayman Islands, warned, as cited in the FT report.

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Relocation, relocation, relocation

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