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Guardian Article


joeyconcrete

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Mr Ned has just been on Manx Radio news over the Guardian, he never defended himself over the £30k ??????? I would of thought that would of been the first thing he would of denied

 

 

Just had a listen to Neds Broadcast from Manxradio of Friday, and it stands out for the first time he has not denied an alegation.In all other reports he has always said unfounded alegations have been made against him by others which will be proved wrong. This is the first time that one of the alegations has been mentioned, yet Ned has not responded, why would this be, is it true and he cant deny it. If that is the case then its fraud.

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Agreed. I think the words "tax haven" still actually work for the island, not against it. I'm sure if I had a huge wedge of dosh, it'd perhaps make me investigate what the island was about, and whether the reputation was founded or not.

 

I think for instance that if they'd have put in the Guardian "The Island is actually heavily regulated and not much of a tax benefit to the investor, all operating costs considered" it would be more damaging!

 

........ accept that the above statement would also be inaccurate. Yes, we are heavily regulated, but we now attract a better standard of business utilising legitimate tax schemes. We still have attractive tax incentives that have not been withdrawn, rather, the income tax department are working towards making those benefits available to local business to make it a level playing field.

 

Further, someone investigating whether it was economically viable to stash their 'wedge of dosh' in a tax haven, is not actually going to see their plan through to fruition - so how is that of benefit to the island? It's a non starter.

 

FAFT are considering that where a global institution is operating in countries where more than one Anti Money Laundering set of rules are in operation then the whole group should adopt the strictest set of Anti Money Laundering guidelines to ensure uniformity around the group. The IOM's AML provisions are amongst the strictest which is why we are now accepted as a legitimate offshore centre around the world. But think about it, if group structures have to adopt the strictest AML provisions and the IOM is a pretty expensive place to do business in terms of employee costs, what really is there to keep these global institutions on the Isle of Man?

 

Deprressing really.

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