welcome back to worlds apart with anthony travers senior partner at an offshore law firm based in the cayman islands and just before the break we were talking about the united states finally returning to the territorial principle of tech taxation and some would argue that the. americans want to take it there even further there is another standing initiative aimed at the repatriation of taxes i'm talking about before an account tax compliance act which compels non the u.s. financial institutions to report on the assets of both u.s. citizens and the u.s. residents worldwide do you think trump is likely to make it work and don't you think that perhaps this territorial principle. may be taking way too far with essential of the extraterritorial nature of that act well i think i think there are actually two quite different things moving us corporations to a territoriality based system of taxation with regard to global trading activity is one thing. the foreign account tax compliance act all fact corrosive snow was directed at something quite different that was directed at ensuring that u.s.

avoidance become a distraction from mismanaging money on shore well to discuss that i'm now joined by anthony travers senior partner at an offshore law firm based in the cayman islands one of the world's most popular offshore destinations mr travers it's good to talk to you thank you very much for your time morning now you made the point in one of your articles that the reason why the governments especially in europe dislike offshore financing so much is pure jealousy and resentment as you put it it reveals they fear and blow the retreat sites within the e.u. offer any jurisdiction which can demonstrate its successes with valid the imposition of unreasonably high taxation but isn't that high taxation in france in germany. the very thing that allows the cayman islands to do so well no not not really that is a popularly held misconception what the cayman islands dollars is structure international capital flows through vehicles which are formed under its very specific lords into jurisdictions where the markets exist for example the united states united kingdom even europe. china or wherever but it does

avoidance become a distraction from mismanaging money on shore well to discuss that i'm now joined by anthony travers senior partner at an offshore law firm based in the cayman islands one of the world's most popular offshore destinations it's a traverse it's good to talk to you thank you very much for your time morning now you made the point in one of your articles that the reason why the governments especially in europe dislike offshore financing so much is pure jealousy and resentment as you put it it reveals they fear and loathing which recites big. in the e.u. off any jurisdiction beach can demonstrate its excesses without the imposition of unreasonably high taxation but it isn't high taxation in france in germany the very thing that allows the cayman islands to do so well no not not really that is a popularly held misconception what the cayman islands dollars is structure international capital flows through vehicles which are formed under its very specific lords into jurisdictions where the markets exist for example the united states united kingdom even europe. china or wherever but it does it

avoidance become a distraction from mismanaging money on shore well to discuss that i'm now joined by anthony travers senior partner at an offshore law firm based in the cayman islands one of the world's most popular offshore destinations mr travers it's good to talk to you thank you very much for your time morning now you made the point in one of your articles that the reason why the governments especially in europe dislike offshore financing so much is pure jealousy and resentment as you put it it reveals they fear and loathing which resides within the e.u. off any jurisdiction which can demonstrate its successes with valid the imposition of unreasonably high taxation but isn't that high taxation in france in germany the very thing that allows the. amun islands to do so well no not not really that is a popularly held misconception what the cayman islands dollars is structure international capital flows through vehicles which are formed under its very specific lords into jurisdictions where the markets exist for example the united states united kingdom even europe. china or wherever but it does it i