Corporate Tax

Caribbean monetary sector endangered by G-20 corporate tax plan

It will take the Caribbean years to recover from the global pandemic that has wiped out tourism, its main economic engine. Now a new storm threatens its offshore financial sector.

With some of the world’s largest economies considering introducing a global minimum corporate tax, few places are likely to suffer as badly as the palm-fringed tax havens of the Caribbean.

With scarce mineral resources or large industries, much of the region’s economy depends on attracting rock bottom international deals. There is no corporation tax in Anguilla, the Cayman Islands, the Bahamas, Bermuda, the British Virgin Islands, and the Turks and Caicos Islands. Places like Puerto …

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