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MEPs vote to add Channel and British Virgin Islands to tax haven blacklist


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Here's the actual press release from the European Parliament about the motion that was passed yesterday.  It doesn't actually give a definitive list of which countries should be on the blacklist, but complains that more countries should be on it and that it is too easy to get removed for making just superficial changes (they seem particularly pissed off about the Caymans),  But they also say some EU countries should be doing more about their own tax regimes or those of jurisdictions they are responsible for.

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Corrupt, gun men in pay of politicians killing journalists. Arresting environmental campaigners who think shooting hundreds of thousands of migrating song birds is wrong. Yep, incredible.

Haven’t we signed more Tax exchange information things than the UK?

Well, Romania, Bulgaria and Latvia are all in the EU already. Latvia is in Schengen and the euro. Preparing to enter Euro and Schengen in case of Bulgaria. Don’t know about Romania. And whilst Mo

14 minutes ago, Roger Mexico said:

Here's the actual press release from the European Parliament about the motion that was passed yesterday.  It doesn't actually give a definitive list of which countries should be on the blacklist, but complains that more countries should be on it and that it is too easy to get removed for making just superficial changes (they seem particularly pissed off about the Caymans),  But they also say some EU countries should be doing more about their own tax regimes or those of jurisdictions they are responsible for.

One of the issues identified is "A 0% tax rate policy should automatically lead to being placed on the blacklist".  I wonder if our 0%/5%/10%/20% corporate tax rates will be sufficient defence against blacklisting...?

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14 hours ago, Roger Mexico said:

Here's the actual press release from the European Parliament about the motion that was passed yesterday.  It doesn't actually give a definitive list of which countries should be on the blacklist, but complains that more countries should be on it and that it is too easy to get removed for making just superficial changes (they seem particularly pissed off about the Caymans),  But they also say some EU countries should be doing more about their own tax regimes or those of jurisdictions they are responsible for.

I gave up hope that we wouldn't be blacked listed, when Howard Quayle was asked a summary question on the Panama committee.

You got the feeling he was thinking "what have the hats I wear, got to do with VAT".

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On 1/22/2021 at 6:23 PM, Andy Onchan said:

What about Monaco and San Marino? Oh and Bulgaria & Romania. Oh and Latvia. All stuffed with Russian money.

Don’t forget Malta, Cyprus and the Costa del Sol. More roubles there than in Putin’s sock drawer. But just as dodgy.

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On 1/22/2021 at 7:45 PM, John Wright said:

Corrupt, gun men in pay of politicians killing journalists. Arresting environmental campaigners who think shooting hundreds of thousands of migrating song birds is wrong.

Yep, incredible.

That is exactly what I mean. They are a minor EU country and have a highly competitive tax regime- and all that stuff you mention going on in plain sight. And then they’ve hoovered up masses of EU cash to improve their infrastructure and restore their castles.

The EU, accordingly need to put their own house in order before going after the outsiders. That said, they won’t. 

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How they can describe the Isle of Man as “a shady offshore jurisdiction” is beyond me. We have a sound economic future model based on two sturdy pillars, Gambling and Drug Dealing.

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3 hours ago, GMR said:

How they can describe the Isle of Man as “a shady offshore jurisdiction” is beyond me. We have a sound economic future model based on two sturdy pillars, Gambling and Drug Dealing.

What about Chinese banks?

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There was an article in the local online press pertaining to this a couple of days ago and I can't find it now, it was 3FM, MR or iomtoday, that claimed that the IoM had "automatically been added to the list too" which seemed to be a bit previous or inaccurate (or both?)

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On 1/24/2021 at 8:10 AM, Derek Flint said:

The EU, accordingly need to put their own house in order before going after the outsiders.

Britain no longer has any say thanks to Brexit. No more than it can decide US policy.

It's not just the offshores - the whole finance sector and services, which was Britain's #1 business, is going to be significantly diminished over time. A lot of trading moved out of London ahead of Jan 4. Some will think that only affects the wealthy or people they have nothing in common with - but ultimately it means less money for schools and hospitals.

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And then of course there's the grand old duke of tax avoidance jurisdictions: Luxembourg. That's fine though, because the avoidance industry was largely created whilst Jean Claude Junker was Finance Minister / Prime Minister, albeit it apparently all happened without his knowledge and he's assured us that he certainly was not the 'architect' of the tax regime and practices which facilitated massive scale avoidance.

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4 hours ago, NoTail said:

What about Chinese banks?

Chinese Banks mere propaganda by Skelly and his henchman to attract immigrants from HK. Little did they know!

Next pillar of the economy will be the  “webcamming” industry, fits perfectly with the current thrust now that the Methodists have been suppressed.

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26 minutes ago, GMR said:

Next pillar of the economy will be the  “webcamming” industry, fits perfectly with the current thrust now that the Methodists have been suppressed.

Did you mean repressed?:D

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