Cayman agricultural officer visits Bermuda exhibition
HAMILTON, Bermuda: The Royal Gazette, April 21, 2006 – A number of guests from across the Caribbean brought to Bermuda to observe and help with the judging at this year’s Bermuda Annual Exhibition have spoken highly of the event, which is expected to attract more than 30,000 visitors over the next three days.
Dr Alfred Benjamin, chief agricultural and veterinary officer in the Cayman Islands, said on previous visits he has taken away good ideas from the show to be used in the Cayman Islands and spoke of his pleasure at the reciprocal nature of the relationship between his country and Bermuda.
Texas almost as tax friendly as the Cayman Islands
AUSTIN, USA: The Texas Observer, April 21, 2006 – The franchise tax represents a less-than-robust source of public revenue: an estimated $1.86 billion this year, compared to about $16.3 billion generated by the sales tax in 2005. For Dell Computer, SBC (now called AT&T) and Cox Communications, among thousands of well-heeled businesses and professional firms, Texas has been almost as tax friendly as the Cayman Islands.
Australian taxman targets Cayman credit cards
SYDNEY, Australia: The Sydney Morning Herald, April 21, 2006 – The Tax Office is closing in on Australians using credit cards obtained in offshore tax havens to avoid paying tax at home. Information sharing agreements with well known tax havens including the British Virgin Islands, Grenada and the Cayman Islands were close to conclusion.
Collapsed hedge fund millions found in Cayman
TORONTO, Canada: The Toronto Star, April 19, 2006 – The first meeting of creditors of collapsed hedge fund Portus Alternative Asset Management will take place in Toronto in mid-June. Portus, founded in 2002 by Manor and Michael Mendelson, became one of the fastest-growing hedge funds in Canada, with about 26,000 customers investing almost $800 million.
The company began to unravel after regulators froze its accounts in early 2005 amid concerns about bookkeeping irregularities. In total about $700 million has been secured after being found in 130 Portus bank and investment accounts in Canada, the Turks and Caicos and the Cayman Islands.
