Evil Goblin Posted July 11, 2009 Share Posted July 11, 2009 It is a pity that the thread dealing with the Island's future as a Finance Centre was stopped as this matter is probably the most important question we currently face and should be the subject of thorough discussion. It is actually far more important than the KSF debacle for our future. No one can doubt that the current onslaught of the big countries against tax competition by the likes of the IoM is deadly serious. The United States is not only proposing (with the Levin-Coleman-Obama Act) to tighten up a lot of perceived loopholes being taken advantage of by, principally, US Corporations but is also making determined attempts to turn the international banking system into one huge tax-collecting/snooping mechanism. The EU revisions to the ESTD are another major attack. The likes of Allen Bell and the FSC are labouring under the misconception that the Island is an attractive base for banking, insurance, companies and trusts for reasons that have nothing to do with tax avoidance - therefore, we have nothing to fear from automatic disclosure of information. I am afraid that before too long not only they, but the rest of us, are going to wake up and smell the coffee. Whilst it is undoubtedly true that some business will be largely unaffected by the coming changes a great deal of it will be and will decamp for elsewhere (people really should forget all the guff about how the burdensome regulation which applies here now makes the Island attractive - that's just PR Guff to enable Agent Aspden and co to build up their Empire preparatory to "pulling the house down" - "if you would destroy something, firstly you must build it up". The only people with any bottle seem to be the Swiss - maybe if the rest of us joined them with determined resistance to the bully-boys activities of the US, UK, etc. then we would all end up better off. Link to comment Share on other sites More sharing options...
GD4ELI Posted July 11, 2009 Share Posted July 11, 2009 The only people with any bottle seem to be the Swiss - maybe if the rest of us joined them with determined resistance to the bully-boys activities of the US, UK, etc. then we would all end up better off. Expect the Swiss to capitulate - at the moment you're hearing rhetoric, behind the scenes it is being accepted than an industry based on tax avoidance / evasion has no future. Switzerland as has no - I repeat no wiggle-room. IMO Alan Bell and his mates are doing a first-class job. Link to comment Share on other sites More sharing options...
bellyup Posted July 11, 2009 Share Posted July 11, 2009 Shelter Offshore still thinks that the IOM is doing a good job and says so in this article http://www.shelteroffshore.com/index.php/o...-damn-it-10514/ Link to comment Share on other sites More sharing options...
Amadeus Posted July 12, 2009 Share Posted July 12, 2009 Shelter Offshore still thinks that the IOM is doing a good job and says so in this article http://www.shelteroffshore.com/index.php/o...-damn-it-10514/ How many more times are you gonna post that? Link to comment Share on other sites More sharing options...
ans Posted July 12, 2009 Share Posted July 12, 2009 I have a hunch he'll only post it one more time and then never post again. Ever. Link to comment Share on other sites More sharing options...
bellyup Posted July 12, 2009 Share Posted July 12, 2009 I have a hunch he'll only post it one more time and then never post again. Ever. I fail to understand you lot I post something that sings the praises of the IOM as a banking centre and you dont want that either. Link to comment Share on other sites More sharing options...
Addie Posted July 12, 2009 Share Posted July 12, 2009 Shelter Offshore still thinks that the IOM is doing a good job and says so in this articlehttp://www.shelteroffshore.com/index.php/o...-damn-it-10514/ How many more times are you gonna post that? I have a hunch he'll only post it one more time and then never post again. Ever. Don’t worry, Bellyup. Sprinkle your next post with four letter expletives and you’ll be safe enough. Link to comment Share on other sites More sharing options...
Sebrof Posted July 12, 2009 Share Posted July 12, 2009 I think you are spot-on Evil Goblin. It is disingenuous (at best) for people to say, as many do, that the IOM is not a tax haven. Of course it is. There are only two possible reasons for finance sector companies to set up here: lax regulation (perhaps), and opportunities to reduce tax liabilities. And I suspect that the latter outweighs the former by a good margin. As the IOM continues on the path (and I don't think it has a lot of choice) of signing tax treaties, the opportunities for tax avoidance and evasion will diminish. Business will gradually ebb away. The IOM could of course follow Jersey's lead and try (harder) to attract wealthy retirees. It could perhaps also attempt to repell poorer retirees who could become a burden. Whether Manx people would like the island to become like Jersey is another matter, of course, and anyway, recent experience suggests that the island's appeal to wealthy retirees is limited. Alternatives? Nature/eco toursim is something that has consireable scope, in my view. But it needs a co-ordinated approach, and control over the Racket. S Link to comment Share on other sites More sharing options...
007Pimpernel Posted July 12, 2009 Share Posted July 12, 2009 I think you are spot-on Evil Goblin.........S How delightfully refreshing to see some sane, sensible, thoughtful isses being raised in this Forum post, in a forum that seems generally to have an anathema to discussing issues that are vital to the future livelyhood to the good people of the IoM. When members respond to serious issues being raised using trite, crude, vulgar put-downs of other members then this tells me that they have no thoughtful intelligent contribution to make. OK, so if a member here is fed up with a particular topic...then go and abuse someone else in another forum, if abuse of members is an acceptable part of the life of this forum that is totally acceptable to, & hence tollerated by, its moderators. Some members here do not understand anything about forum etiquette, or if they do they chose to ignore it. That is neither good manners nor good for the healthy life of any forum. Instead of attracting & encouraging others to join in a discussion in a civilised fashion it drives people away. That's not good for democracy and is certainly not good for creating a lively, & interesting forum. Too many forums implode by a handful of trolls flaming discussions. This Forum runs the risk of becoming no more than a cesspit of banal banter. It's not funny, it's not clever & it is cerainly not encouraging people to join in the life of the Forum. Come on mods, please do your job to encourage respect between those who particupate in the life of the Forum. We should all remember Voltaire's quote: ""I may not agree with what you have to say, but I will defend your RIGHT to say it to the death!" Link to comment Share on other sites More sharing options...
Amadeus Posted July 12, 2009 Share Posted July 12, 2009 Thank you for reminding me how to do my job around here. Seriously... Link to comment Share on other sites More sharing options...
Declan Posted July 12, 2009 Share Posted July 12, 2009 This Forum runs the risk of becoming no more than a cesspit of banal banter. How are you in a position to say that, you've only been a member for a month. This forum has been going five years but as group of posters it all began about 10 years ago. We've survived much worse than has been going on in the last month. Stay around the current heavy handed moderation is not the norm and they'll relax again in time Thank you for reminding me how to do my job around here. It's not your job. You are a user-moderator (or at least that what the role was originally), that means you use the forums and help keep it going and running smoothly. Nothing more. I don't see why you won't accept comment and criticism from other users and rarely explain your actions. Link to comment Share on other sites More sharing options...
007Pimpernel Posted July 12, 2009 Share Posted July 12, 2009 This Forum runs the risk of becoming no more than a cesspit of banal banter. How are you in a position to say that, you've only been a member for a month. This forum has been going five years but as group of posters it all began about 10 years ago. We've survived much worse than has been going on in the last month. Stay around the current heavy handed moderation is not the norm and they'll relax again in time. There's not much here to encourage me to stick around this forum! I only do so because I believe that it could be a great forum where issues of importance can be shared & discussed in a responsible manner. I am not talking about heavy-handed moderation. So far I haven't seen much evidence of any moderation! Where can one find set out the principles by which this forum is moderated? It isn't the easiest of forums to navigate so I would be grateful if someone could point me in the right direction. Link to comment Share on other sites More sharing options...
Declan Posted July 12, 2009 Share Posted July 12, 2009 Well there's no moderation principles, as such, but there's the T&C's which is kind of a guide. Link to comment Share on other sites More sharing options...
CJW Posted July 12, 2009 Share Posted July 12, 2009 Alternatives? Nature/eco toursim is something that has consireable scope, in my view. You're kidding, right? As I have said before on these forums, there is nothing on the Isle of Man that cannot be seen elsewhere (and probably for much for less) in the UK. Nobody, is going to visit here just for the wildlife. Link to comment Share on other sites More sharing options...
The Voice of Reason Posted July 12, 2009 Share Posted July 12, 2009 I think you are spot-on Evil Goblin.........S How delightfully refreshing to see some sane, sensible, thoughtful isses being raised in this Forum post, in a forum that seems generally to have an anathema to discussing issues that are vital to the future livelyhood to the good people of the IoM. When members respond to serious issues being raised using trite, crude, vulgar put-downs of other members then this tells me that they have no thoughtful intelligent contribution to make. OK, so if a member here is fed up with a particular topic...then go and abuse someone else in another forum, if abuse of members is an acceptable part of the life of this forum that is totally acceptable to, & hence tollerated by, its moderators. Some members here do not understand anything about forum etiquette, or if they do they chose to ignore it. That is neither good manners nor good for the healthy life of any forum. Instead of attracting & encouraging others to join in a discussion in a civilised fashion it drives people away. That's not good for democracy and is certainly not good for creating a lively, & interesting forum. Too many forums implode by a handful of trolls flaming discussions. This Forum runs the risk of becoming no more than a cesspit of banal banter. It's not funny, it's not clever & it is cerainly not encouraging people to join in the life of the Forum. Come on mods, please do your job to encourage respect between those who particupate in the life of the Forum. We should all remember Voltaire's quote: ""I may not agree with what you have to say, but I will defend your RIGHT to say it to the death!" That's weird. You slag off people for what they say and then invoke Voltaire's famous quote Link to comment Share on other sites More sharing options...
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