Cayman Finance & CIG rebuke ABC News

(CNS Business): Responding to a report on a major US television network news station on the use of offshore accounts in the Cayman Islands by Mitt Romney and the corporation he once ran, Cayman Finance said it displayed a total misunderstanding of the role of the Cayman Islands’ tax neutral framework. The Cayman government has also issued a statement calling allegations in the report of improper secrecy in its dealings as an offshore jurisdiction "unfounded". The report on ABC News, which referred to the Cayman Islands as “a notorious Caribbean tax haven, where secrecy is the rule”, said the Republican front-runner for nomination to run for president used “tax loopholes available only to the super rich”, which resulted in a 15% tax rate, much lower than most Americans. Read more on CNS Business