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Not a tax haven.


IOMRS97
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I'm not under any pressure I can assure you.

It just bores me when clueless people like you waffle on about things they've no real understanding of.

I do not claim to know much about avoiding paying Tax as I have never done so. Just a little information for you. Canada is coming after the Isle of Man and has allocated 444 million pounds for the job ( this does include other Tax Havens ) although it names the IOM specifically . The net is closing and I may indeed be clueless when it comes to Tax Dodging but there are plainly others who aren't, and they are coming after the Isle of Man and this sickening habit, which surely does the Islands reputation no good at all with decent and honest people, of whom there are gladly still many.

 

 

If the Canadian residents have been conducting their affairs outside of Canadian tax laws, ie. evading their legal responsibilities, then the full weight of the law should be brought down on them.

 

However, if I read the reports correctly then the CRS themselves have a major problem because there is speculation that employees within CRS were/are party to alleged tax evasion. Seems to me that the Canadian government need to look closer to home.

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I'm not under any pressure I can assure you.

It just bores me when clueless people like you waffle on about things they've no real understanding of.

 

I do not claim to know much about avoiding paying Tax as I have never done so. Just a little information for you. Canada is coming after the Isle of Man and has allocated 444 million pounds for the job ( this does include other Tax Havens ) although it names the IOM specifically . The net is closing and I may indeed be clueless when it comes to Tax Dodging but there are plainly others who aren't, and they are coming after the Isle of Man and this sickening habit, which surely does the Islands reputation no good at all with decent and honest people, of whom there are gladly still many.

Canada are going to be deeply disappointed I suspect.

 

What exactly is "sickening" by the way?

 

In relation to what has happened in Canada KPMG etc put together structures that were perfectly legal. And they've used other locations too. The location wasn't hugely important. The rules that KPMG et al worked to allowed them to do it.

 

You need to move away from thinking that it is dishonest to arrange your tax position in the most efficient way possible. It isn't a moral issue. It's a legal one.[/quot

 

I'm bored with this, we will all soon see the result

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Indeed we will. And I suspect people like you will be disappointed. Which will be both gratifying and at the same time a little bit sad Bernie.

I am more than pleased to be referred to as ' Bernie ' as I have a great deal of time for Mr Moffit. There are however a lot of people of like mind to Bernie still on our Island and I suspect the way things are going they will be increasing every day.

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But how will they eat?

We have survived many times before and we will survive again, no problem. Someone with ideas other than Bell and Tears will come along as they have in the past ' moving forward ' . ' Whichever way you throw us we stand '

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But how will they eat?

We have survived many times before and we will survive again, no problem. Someone with ideas other than Bell and Tears will come along as they have in the past ' moving forward ' . ' Whichever way you throw us we stand '

 

Go on then, give us some ideas?

Finance etc goes tomorrow. What are we going to be doing?

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Let out Jurby to the Russians or the Chinese?

A bit of fishing and farming?

Tourism?

High precision engineering?

 

Anyway it is not proposed to stop the finance industry. Just the elements which cater for assisting some from avoiding paying taxes in their own countries.

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The Isle of Man got a load of publicity yesterday when the Prime Minister mentioned it twice I think, he said the Crown Dependencies were going to co-operate with the UK on who the people are who have companies investing in their areas.

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Finance etc goes tomorrow. What are we going to be doing?

I would be contracting. Assuming Corbyn hasn't cut off the internet. What about you? In many ways it would be little different from living anywhere else in these islands. It already isn't. And to be honest - a lot of people who are accountants or lawyers or any number of other professionals also employing people would be able to carry on the same but different. These skills are useful anywhere. The internet provides a lot of remote working opportunities which did not exist in 1980.

 

I believe that finance has been good for the IOM, I see no moral issues today and I think it has been well managed - especially in recent years. The island is right to seek to ensure that the business is seen to be compliant internationally - more and more about expertise, less and less about loopholes.

 

But let's not fall for a sort of defeatist negativism which assumes that the island could not adapt.

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