Banking files from the Caymans have been handed to the US authorities by a whistleblower claiming they reveal international tax avoidance, according to reports.
Concerns UK banks have been using the Cayman Islands for tax avoidance purposes have recently been raised in the Commons, while Barack Obama and Senator Carl Levin attacked the islands' 'tax haven' reputation and plan to investigate. Documents listing names and transactions of hundreds of funds, companies, trusts and individuals, protected by Swiss secrecy laws have been given to the US authorities, The Guardian reports. Legal tax avoidance structures are also alleged to be contained in the documents from Rudolf Elmer, former chief operating officer for the Cayman arm of Julius Baer Swi...
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