Jersey Knows What Its Passed Over How Come The Iom Is Quiet? in Local News Posted July 12, 2006 · Edited July 12, 2006 by Beckett it's exactly the same for every country in europe that's in the EUSTD I think there may be rather serious implications for places such as Jersey and the IOM both of which make their beer money from pursuing an alternative tax strategy to the large EU countries. I know, if I had large amounts of money, I wouldnt want to be paying witholding tax in the IOM if I could move it elsewhere to a place which hasnt put a witholding tax in place. Just a thought. Yeah, but security, accountability and regulation come into it, not to mention credit ratings. That banana republic over there might offer some nice no questions asked services, but would you really want to put your money there! As mentioned above, the Treasury gets a significant cut of all tax collected before passing it on to the relevant tax authorities around the EU.