Offshore transparency still centre of US tax debate

(CNS Business): Offshore financial centres such as the Cayman Islands are likely to be front and centre stage in tax debates during the US presidential election, as highlighted by political strategist and columnist Donna Brazile, who spoke at the STEP Caribbean Conference launch on Sunday. In light of the anticipated increased focus on OFCs in the coming months, former Cayman Islands Monetary Authority chairman Tim Ridley detailed the ways in which OFCs could survive and prosper through this heightened scrutiny. Private client professionals should note that wealth was being generated by new sources other than within the traditional countries in the west and that the west had developed an aggressive stance against offshore jurisdictions. Read more on CNS Business