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Tynwald Day 2021


Amadeus
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5 hours ago, doc.fixit said:

I agree with your views on banking but not the Tynwald process, it's too easily manipulated. (Much the same as the banking process).

One thing you didn't mention is the ease of access to one's finances by the authorities, always a bad thing even if there is nothing to hide, they intrude on our lives enough.

What ease of access are you referring to?

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44 minutes ago, Anyone said:

I knew that Declan , I was just being a smart ass although who could not love Lamb Chop , the cutest ever sock puppet.

Well of course you do. It was Alan Shimmin who asked.

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8 hours ago, TerryFuchwit said:

What ease of access are you referring to?

Awareness of what you have in your a/cs, particularly  interest and being able to take what they consider unpaid tax? f you disagree, more fool you.

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Just now, doc.fixit said:

Awareness of what you have in your a/cs, particularly  interest and being able to take what they consider unpaid tax? f you disagree, more fool you.

Sorry, you think the tax office has direct access to your bank account data?

Do tell, how can they just "take unpaid tax"?

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Do tell, can they not? I certainly can't be bothered to chase up cases, You live in your world, I'll live in mine where the less authority knows, the better.

Do you honestly believe your money and assets are safe from the tax man?

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4 hours ago, doc.fixit said:

Do tell, can they not? I certainly can't be bothered to chase up cases, You live in your world, I'll live in mine where the less authority knows, the better.

Do you honestly believe your money and assets are safe from the tax man?

I suspect you haven't really got a clue what you are  talking about to be fair.

The tax man doesn't have a direct insight into your bank account.  Or the interest you were paid.

Also, if they do want to find out data from your bank they'll need to produce an Order to gain access to the information.  They would also ask you first for it I suspect if they doubted you.

The tax office are not really interested in pissy amounts of credit interest.  

Dividends probably of more interest.  And blatant tax evasion.

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4 minutes ago, TerryFuchwit said:

I suspect you haven't really got a clue what you are  talking about to be fair.

The tax man doesn't have a direct insight into your bank account.  Or the interest you were paid

In fact he does. Every bank has to submit details of interest paid for all clients to the tax office. They do also cross check them amounts (on larger sums)

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18 minutes ago, NoTail said:

In fact he does. Every bank has to submit details of interest paid for all clients to the tax office. They do also cross check them amounts (on larger sums)

Thank you. I really can't be arsed arguing with him.

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57 minutes ago, NoTail said:

In fact he does. Every bank has to submit details of interest paid for all clients to the tax office. They do also cross check them amounts (on larger sums)

I'm not sure that is the case for everyone.  Especially island residents.

They are submitting data to be passed on (Fatca/CRS) within certain criteria.

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1 minute ago, TerryFuchwit said:

I'm not sure that is the case for everyone.  Especially island residents.

They are submitting data to be passed on (Fatca/CRS) within certain criteria.

It is, and for piddling amounts, and the tax people follow up for same piddling amounts.

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2 hours ago, TerryFuchwit said:

I'm not sure that is the case for everyone.  Especially island residents.

They are submitting data to be passed on (Fatca/CRS) within certain criteria.

And IOMT receive data for island residents who have non-IOM accounts.  That is what CRS is all about. 

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5 hours ago, TerryFuchwit said:

I'm not sure that is the case for everyone.  Especially island residents.

They are submitting data to be passed on (Fatca/CRS) within certain criteria.

FATCA/CRS is about foreign residents.

IOM Banks were submitting info re interest paid to local residents long before FATCA was thought of.

FATCA/CRS returns from other jurisdictions might be providing useful info re interest and dividends earned in other jurisdictions.

 

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I liked Daphne Caine’s outfit, very colourful and summery. I thought Claire Christian was understandably stylish, although the unrelieved black and vulture-esque feathers were perhaps better suited to a Victorian funeral. 

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1 hour ago, Phillip Dearden said:

FATCA/CRS is about foreign residents.

IOM Banks were submitting info re interest paid to local residents long before FATCA was thought of.

FATCA/CRS returns from other jurisdictions might be providing useful info re interest and dividends earned in other jurisdictions.

 

Just pay unto Caesar what is due to Caesar and we’ll all be fine.

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