News about the Cayman Islands in the Foreign Press

Tuesday, August 10, 2004

LA Times reader recommends Little Cayman

LOS ANGELES, USA – In its ‘Readers Recommend’ travel column, LA Times reader Michele Joyce from San Diego recommended the secluded, newly remodeled Southern Cross Club in Little Cayman as a picture-perfect retreat offering fishing and diving, new spa services and dining.

Tortuga rum cakes are a success story in Miami

MIAMI, USA – The Miami Herald reported that, in a relatively short time, Tortuga rum cakes developed a strong international niche after Monique Hamaty-Simmonds began selling the cakes, produced by her family in Grand Cayman, from her home in Kendall while a student at FIU.

IRS still on the trail of Cayman credit card holders

DENVER, USA – The Denver Post reported that a US federal judge granted the Internal Revenue Service the right to seek information from First Data Corp about certain credit-card transactions the company has processed, as part of an IRS crackdown on tax evaders.

Specifically, the IRS wants information about holders of American Express, Visa and MasterCard credit cards which were issued by, or on behalf of, certain offshore financial institutions. The government listed more than 30 offshore jurisdictions, including the Cayman Islands.

The IRS said in a court filing that it believed those account holders: “may fail, or may have failed, to comply with internal revenue laws.”

The IRS is targeting people who held accounts between 31 December 1999 and 31 December 2003.

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