200+ New Jobs As Tesco Expands

[gazza]

the truth to it all is, thay woulden be here if we diden want them,

 

and if there expanding it shows that we muct want them here dont it

Not necessarily, and since we are talking about Tesco, the answer is definetly no chance.

 

If they were only responding to demand, they wouldn't need to advertise.

 

how come all major companines advertise!!!!!!, same diffrence really,

 

well if thay werent makeing any thing then thay woulden be expanding, which means that ppl must be shoppping there, so there is a big chance, and as one of there leading stores in the north west for income the figures talk for themselfs dont that

[MarcusAurelius]

well if thay werent makeing any thing then thay woulden be expanding, which means that ppl must be shoppping there, so there is a big chance, and as one of there leading stores in the north west for income the figures talk for themselfs dont that

 

Thats because the Tesco here is on a Tesco Express price structure ( ie more than the standard Tesco across ).In towns across where Tesco has chased the opposition out of town their prices have gone much higher.If Tesco becomes all conquering on this island and the likes of Co-op and Shoprite close just watch the prices go up even more.

[bluemonday]

I for one will welcome our Tesco overlords and look forward eagerly to being assimilated and adding my paltry pennies to the stash.

 

Isle of Tesco hmmmmm........

[Sebrof]

see 1st para, I don't understand why vat is not paid to manx coffers unless sales are registered in UK (Is that legal by the way?)

 

As I understand it, all VAT goes to the UK, none is paid into manx coffers. We then get a payment back from the UK using a secret and complicated calculation under the common purse agreement. Part of this calculation is based on GDP, but because Tesco is a non resident company, it's sales do not contribute to manx GDP so we get no VAT back based on tesco sales.

 

 

Wrong, as usual. Tesco's sales ARE part of Manx GDP.

 

What Tesco IMPORTS is excluded, just as what Shoprite IMPORTS is excluded.

 

For all retail goods imported into the island, the effect on GDP is as follows:

 

Effect on GDP = S -I, where S = sales value, and I = import value, including shipping but excluding duties.

 

S

[Gladys]

Does Tesco import into the IOM?

[Slim]

Wrong, as usual. Tesco's sales ARE part of Manx GDP.

What Tesco IMPORTS is excluded, just as what Shoprite IMPORTS is excluded.

For all retail goods imported into the island, the effect on GDP is as follows:

Effect on GDP = S -I, where S = sales value, and I = import value, including shipping but excluding duties.

 

You've misunderstood. Apparently it's because tesco doesn't have a manx registered company, it is a foreign company. Juan Watterson asked questions about it last year and raised the point. It came up recently with the expansion news too:

 

http://www.iomtoday.co.im/news/Retailers39...sion.5042145.jp

Trade and Industry Minister David Cretney: "But the difference between Marks' and Tesco is that Tesco's profits and VAT go off-Island"

 

There's a question in Tynwald on record about it, look it up.

[Sebrof]

Wrong, as usual. Tesco's sales ARE part of Manx GDP.

What Tesco IMPORTS is excluded, just as what Shoprite IMPORTS is excluded.

For all retail goods imported into the island, the effect on GDP is as follows:

Effect on GDP = S -I, where S = sales value, and I = import value, including shipping but excluding duties.

 

You've misunderstood. Apparently it's because tesco doesn't have a manx registered company, it is a foreign company. Juan Watterson asked questions about it last year and raised the point. It came up recently with the expansion news too:

 

http://www.iomtoday.co.im/news/Retailers39...sion.5042145.jp

Trade and Industry Minister David Cretney: "But the difference between Marks' and Tesco is that Tesco's profits and VAT go off-Island"

 

There's a question in Tynwald on record about it, look it up.

 

I haven't misunderstood. You're pretending you said something else, as you always do when you get caught out.

 

You said: "it's sales do not contribute to manx GDP" That is not so.

 

S

[Sebrof]

Does Tesco import into the IOM?

 

Of course. Virtually everything it sells, other than local meat, fish, veg, and beer, is imported. And most of the packaging for the local produce.

 

S

[Slim]

I haven't misunderstood. You're pretending you said something else, as you always do when you get caught out.

You said: "it's sales do not contribute to manx GDP" That is not so.

 

I haven't changed my story at all Sebrof, you're just quoting me out of context. According to Juan Watterson and the DTI minister, tescos sales do not contribute to GDP for VAT calculations. I'll take their opinion over yours, thanks.

[Sebrof]

Wrong, as usual. Tesco's sales ARE part of Manx GDP.

What Tesco IMPORTS is excluded, just as what Shoprite IMPORTS is excluded.

For all retail goods imported into the island, the effect on GDP is as follows:

Effect on GDP = S -I, where S = sales value, and I = import value, including shipping but excluding duties.

 

You've misunderstood. Apparently it's because tesco doesn't have a manx registered company, it is a foreign company. Juan Watterson asked questions about it last year and raised the point. It came up recently with the expansion news too:

 

http://www.iomtoday.co.im/news/Retailers39...sion.5042145.jp

Trade and Industry Minister David Cretney: "But the difference between Marks' and Tesco is that Tesco's profits and VAT go off-Island"

 

There's a question in Tynwald on record about it, look it up.

 

I don't think you can place much store by what Mr Cretney said. Of course Marks' profits go off-island. The local company, if there is one, will simply pay all profits to M&S UK by way of dividend. If he can get that wrong, then he can get the VAT wrong, too.

 

As for the VAT, I have to say I don't know exactly how the common purse works, and nor, I suspect, do many other people. I see no reason for Tesco's sales to be excluded from the VAT common purse, but it is quite possible that they are. However, that wasn't the point I was arguing with - which was your definition of Manx GDP.

 

S

[Slim]

I don't think you can place much store by what Mr Cretney said. Of course Marks' profits go off-island. The local company, if there is one, will simply pay all profits to M&S UK by way of dividend. If he can get that wrong, then he can get the VAT wrong, too.

 

As for the VAT, I have to say I don't know exactly how the common purse works, and nor, I suspect, do many other people. I see no reason for Tesco's sales to be excluded from the VAT common purse, but it is quite possible that they are. However, that wasn't the point I was arguing with - which was your definition of Manx GDP.

 

If that makes you happy, Sebrof, then give yourself a big pat on the back.

[Lawnmower]

I understand it's nothing to do with GDP. Our share of the VAT pot increases in proportion to how much better our GNP is compared to UK.

 

So whatever goes off Island is not part of that. Buy local.

[yehyehyeh]

maybe there planning something similiar as what they did to denmark

 

[Slim]

I understand it's nothing to do with GDP. Our share of the VAT pot increases in proportion to how much better our GNP is compared to UK.

So whatever goes off Island is not part of that. Buy local.

 

 

Could be, I gather from Juan Wattersons comments that it's related to it not having a local ltd company, so we don't get a share of the VAT spent in Tesco, but do in Shoprite.

 

15% of tesco's take is quite a significant amount of cash I imagine.

[pongo]

The IOM would have a bit of cheek if it was concerned (although I do not think it is) about non resident companies and any potential implications re lost tax revenue. Given that is what the IOM is all about still.