TAXATION: ‘EVALUATING WHETHER THE NON-DIRECT TAX REGIME IS SUITABLE FOR THE CAYMAN ISLANDS’

By
John GF Carey

September 2010

Dissertation submitted to the University of Leicester in partial fulfilment of the requirements for the degree of
Master of Business Administration.
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CONTENTS

Page
ACKNOWLEDGEMENT ………………………………………………………………………………………….. 3
EXECUTIVE SUMMARY ………………………………………………………………………………………… 4
1.0 INTRODUCTION…………………………………………………………………………………………………6
1.1 Tax Regimes……………………………………………………………………….6
1.2 Impact of Non-Direct Tax Regime on The Cayman Islands………………………8
1.3 Impact of Non-Direct Tax Regime on Budget Deficit/Surplus…………………..10
1.4 The Cayman Islands Experience………………………………………………….13
1.5 Research Methodology……………………………………………………………15
1.6 Personal Interest…………………………………………………………………..17
1.7 Dissertation Structure……………………………………………………………..18
2.0 LITERATURE REVIEW………………………………………………………………………………………19
2.1 Taxation and Investment……………………………………………………….…19
2.2 Current Tax Regime