November 23, 2020

Tax lobbying goes global

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By THEODORIC MEYER With David Beavers and Aubree Eliza Weaver From Politico

TAX REFORM LOBBYING GOES GLOBAL: Seemingly every big company and trade association with a presence in Washington is lobbying on tax reform, but the may be the first foreign territory to get in on the game. The British territory in the Caribbean signed to provide “counseling and advocacy services on international taxation legislation and public policy matters,” according to a Justice Department filing. , a partner at Baker Botts, said the firm has met with the international tax counsels of the and the House Ways and Means Committee on the islands’ behalf.

— Cayman’s goal isn’t to protect a particular provision in the tax code, Munk said. It’s to keep lawmakers from beating up on foreign tax havens as they craft a bill. “From Cayman’s perspective, they want to dispel the stereotypes that are outdated and don’t recognize Cayman’s strong record of compliance” with U.S. tax law, Munk said. “I think the policy outcome is less important to them — the U.S. can write its own [tax] code — than avoiding being unfairly criticized,” he added.

— While Baker Botts has met with committee staffers on behalf of Cayman already, the full contract — and the full $12,500 fee — doesn’t kick in until Jan. 1. Does that say something about whether Cayman expects tax reform to drag on into next year, as many tax lobbyists do? “I think predicting the pace of tax reform is beyond what foreign governments can be expected to do,” Munk said.

Attached is the document that Baker Botts has been circulating on behalf of Cayman.

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