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G-20 Might Be Listening To Tax Havens But They Aren't Hearing Them

Probably still a bit irritated that invitees to the party currently taking place in Pittsburgh require a valid membership ID to the G-20 and not the G-200, the Cayman Islands and Bermuda sounded off on the recent round of persecution against them.

"It's not fair," said McKeeva Bush, political leader and Minister of Financial Services of the Cayman Islands...It's the fault of the onshore centers who taxed their own people ... money is running away from them now," Bush said.

That may be, but we're way past playing the blame game for indiscretions in the past. The world is in recovery mode now and the last thing we want to do is bicker about who was right and who was wrong. We're moving forward and we want everybody's input- regardless of size.

Bermuda's finance minister, Paula Cox, also suspects the world's richest states may be seeking "extra-territorial solutions to their economic, fiscal and financial challenges."
"There is now a strong suspicion that the G20 has an undisclosed agenda item to drive forward a global corporate tax policy, which may fly in the face of a nation's sovereign right to set down its own tax policy," she said.

On the other hand, the more things change, the more they stay the same.
Tax havens talk back against G20 "finger pointing" [Reuters]