Politics
Cayman Islands: Premier McKeeva Bush facing backlash over foreign worker tax
Cayman Islands Premier., McKeeva Bush. PHOTO/File
Premier McKeeva Bush has raised the ire of thousands of expatriates and Caymanians alike over his move to close budget gaps by introducing a new tax aimed at foreign workers.
Bush outlined plans last week for what he referred to as a “Community Enhancement Fee” to be charged at 10 percent of the remuneration paid to foreign work permit holders in the Cayman Islands in respect of remuneration levels that exceed $20,000 (US$24,000) per year.
These proposals come amid ongoing discussion and delay in formulating a budget for the Cayman Islands that is acceptable to the Foreign and Commonwealth Office (FCO) in London.
However, this move has earned Bush widespread and stinging criticism.
The Facebook group “Caymanians and expats united against taxation” formed to protest the tax has already attracted over 10,200 members.
The Cayman Islands Real Estate Brokers Association (CIREBA) has not held back in its response to the move:
“The foundation of the lunacy surrounding this approach lies in the fact that this attempt to tax and spend our way out of financial trouble has been tried repeatedly over the course of history and failed miserably each time,” the CIREBA board stated, adding that Cayman should learn from the history of other countries that made a similar mistake,” said statement issued yesterday (August 1) by the CIREBA board.
