Hashtag: #AmericanPoliticians
Romney On ‘Trivial Discrepancies’
Some investments listed in Mitt and Ann Romney’s 2010 tax returns — including the Bermuda-based Sankaty High Yield Asset Investors Ltd. and other funds located overseas — were not explicitly disclosed in the personal financial statement the Republican presidential hopeful filed in August as part of his White House bid. The “Los Angeles... Read more of this article
Romney Had Bermuda Accounts
GOP Presidential candidate Mitt Romney reported financial accounts in Bermuda and the Cayman Islands according to a summary of his 2010 tax form made public by his campaign today [Jan. 24]. Under increasing pressure from his rivals in the Republican field to provide details of his US federal tax returns, Mr. Romney revealed he had paid a total of $6.2... Read more of this article
Ex-CIA Director To Speak In Bermuda
Business Bermuda today [Jan. 24] announced former US Central Intelligence Agency director R. James Woolsey will be the keynote speaker at its forthcoming annual general meeting. Mr. Woolsey [pictured] will speak on the subject of “The Global Web: Security through Interconnectivity” at the February 22 event being held at the Fairmont Hamilton... Read more of this article
‘Romney’s Bermuda Tax Holiday’
With prohibitive GOP Presidential favourite Mitt Romney’s legal use of off-shore domiciles including Bermuda for tax avoidance now gaining traction as a campaign issue, voters shouldn’t be questioning the candidate’s lack of political judgement or perceived remoteness from the average recession-battered American. Instead they should... Read more of this article
Romney ‘Likely Used Tax Shelters’
A former US Treasury deputy international tax counsel said today [Jan.18] Republican Presidential front-runner Mitt Romney’s reluctance to disclose his US tax returns probably owes to the fact he sheltered income in Bermuda and other offshore financial centres. Daniel Berman, who is now director of tax at Boston University’s graduate tax programme,... Read more of this article
US Ruling On $20M Secret Payment
A US Appeals Court yesterday [Jan. 11] threw out a lower court ruling favouring a former Tyco director in the latest chapter of a decade-long legal dispute involving a secret $20 million payment authorised by the one-time Bermuda firm’s disgraced CEO. Former director Frank Walsh was sued by Tyco in connection with the firm’s June, 2001 $9.2... Read more of this article
Cato Institute: Bermuda A Non-Issue
A commentator for a conservative Washington think tank says it’s inevitable GOP presidential front-runner Mitt Romney will come under attack by the American media for using off-shore financial centres including Bermuda – though he predicted the press may hold fire until after he gets the Republican nomination. Mr. Romney [pictured] —... Read more of this article
Newt Gingrich Targets Offshore Jurisdictions
GOP front-runner Mitt Romney, portraying himself as a “jobs creator” in the Republican Presidential primary race, will be depicted as a man who routinely exploited off-shore financial centres including Bermuda and put thousands of Americans out of work in a new series of attack ads being unveiled by rival Newt Gingrich’s supporters... Read more of this article
Bermuda Potential US Campaign Issue
While his GOP rivals largely held fire on Mitt Romney’s use of Bermuda shell companies during campaigning for today’s [Jan.3] first-in-the-nation Republican Presidential caucuses in Iowa, they might not be so forbearing as the American primary season gathers momentum. Mr. Romney [pictured], a former Massachusetts Governor, legally used funds... Read more of this article
Romney: Bermuda Tax Avoidance
Putative Republican Presidential front-runner Mitt Romney [pictured] used a shell company in Bermuda to help investors in his asset management company avoid paying US taxes, the “Los Angeles Times” reported earlier this month. Federal and state records show the former Massachusetts Governor gained no personal tax benefit from the legal... Read more of this article
US Tax Expert Dismisses ABIR Claims
An expert on American tax law says arguments made by the Association of Bermuda Insurers & Reinsurers [ABIR] and other industry lobbyists objecting to proposals in Washington DC aimed at closing the “Bermuda loophole” in the US tax code ”appear to be spurious.” And tax law professor Linda Beale dismissed ABIR claims that... Read more of this article
Executive Questions Bermuda’s Future
While a recent report A.M. Best report gave a “cautiously optimistic” appraisal on the state of the Bermuda re/insurance market, there may be deeper concerns on the horizon for the island a leading industry executive has said. In an interview with the “Insurance Journal”, Chief Executive of Bermuda’s Torus International... Read more of this article
