Cayman government hires new firm to lobby Washington
Capitol Hill, Washington DC
(CNS Business): The Cayman Islands Ministry of Financial Services Home Affairs has quietly hired Texas-based law firm Baker Botts to provide counselling and advocacy services in the US capital, according to an article in the marketing industry press, which was republished on the firm’s website. There has been no official release about the new contract locally but the article indicates that the public purse will be coughing up a monthly fixed fee of $12,500 for the firm’s lobbying services in Washington DC to curry favour with the Trump administration.
That will including advocating for the Cayman Islands’ offshore sector in the areas of international taxation and public policy matters to members of Congress, the Treasury Department and the White House.
The recently unveiled, though still imprecise, tax plans of the current US government may already be favourable to the offshore industry, with experts suggesting multi-national companies that have large tax liabilities on offshore earnings will see their tax bills cut, offering what some have said is a “massive benefit” for the richest global corporations who are using offshore entities.
Category: Finance, Financial Services
That’s going to cost you!