Now they can hide their money and not pay their fair share to the USA but they have to pay taxs to the caymans.
They'll start hiding their money in biafra or somewhere else. Geez I feel bad for them that they have to look for a new hideout.
Cayman Islands — One among thousands of lawyers, accountants and other workers from around the globe, Paul Fordham is escaping cold weather and the taxman by working in a sunny British territory in the Caribbean. He and many others, however, worry they soon may be looking for another haven. The Cayman Islands have lost some of their allure by proposing what amounts to the territory's first ever income tax. And it would fall only on expatriate workers like Fordham who have helped build the territory into one of the most famous or, for some, notorious offshore banking centers that offer tax advantages for foreign investment operations.
Cayman Expat Tax: Haven's Planned Fee Could Damage Country's Economy