When Skies Are Grey Posted June 22, 2010 Share Posted June 22, 2010 Don't encourage him...... Link to comment Share on other sites More sharing options...
Stavros Posted June 22, 2010 Share Posted June 22, 2010 Heh is Rog being melodramatic again. "death throes" Link to comment Share on other sites More sharing options...
Politician Posted June 22, 2010 Share Posted June 22, 2010 From January 4th next year UK VAT rise to 20% Good - That is £9-10 million a year to help fill the VAT black hole. £28 to £34 million, according to me. Calculation as follows: IOM Govt income from VAT before Common Purse renegotiation — £339 million Estimated loss after renegotiation — £140 million (maximum: some sources indicate £100 million) Leaves — between £199 million and £239 million (depending on source) Divide figures by 17.5% and multiply by 20% gives — £227 million to £273 million Link to comment Share on other sites More sharing options...
Rog Posted June 22, 2010 Share Posted June 22, 2010 Unless there's something comes along to generate earnings for the IOM to pay the bills the IOM runs up reliance of any tax is a nonsense. The FS is finished, it's in its death throes. Anyone who thinks otherwise is kidding themselves. Based on what evidence Rog? Unless you've got something to back this, it's just more doomery bollocks. Look around you. Look at the changes that nations are making to their tax laws. There's now an all out attack being maxde on tax havens not to mention the shift of banking and financial services to the Far East and closer top where the wealth creating economies are. Just see how wrong I was - or not - in a couple of years from now. Link to comment Share on other sites More sharing options...
P.K. Posted June 22, 2010 Share Posted June 22, 2010 Isn't it nice to know that Tynpotwald will now have more of your money to play with. Bless... Link to comment Share on other sites More sharing options...
manshimajin Posted June 22, 2010 Share Posted June 22, 2010 The budget speech is worth a read. Particulalry good to see that the UK is focusing on getting the cost of the Public Service down - although as always with such promises it is light on how this will be achieved. Link to comment Share on other sites More sharing options...
Slim Posted June 22, 2010 Share Posted June 22, 2010 Look around you. Look at the changes that nations are making to their tax laws. There's now an all out attack being maxde on tax havens not to mention the shift of banking and financial services to the Far East and closer top where the wealth creating economies are. Just see how wrong I was - or not - in a couple of years from now. This is the nature of competitive tax environments. It's not new, we've been changing our laws for decades to accommodate international circumstances. We've become pretty good at it. Times are challenging, but with increasing legislation and soverign debts creating a large tax burden for many large economies there are definately good opportunities for places like the IOM. Of course, this makes us a target, but that's only natural. I've been hearing "You'll see I'm right" for the last ten years on manx forums, show me evidence Rog, or shut up. Link to comment Share on other sites More sharing options...
Tugger Posted June 22, 2010 Share Posted June 22, 2010 The point about the games development industry is well made. How much is the new Department of Economic Development doing to attract this type of work over here? Don't rely on the VAT uplift though. If you were the UK government why would you let the IOM keep that windfall, rather than trousering it yourself? Link to comment Share on other sites More sharing options...
triskelion Posted June 22, 2010 Share Posted June 22, 2010 Indeed. At best its only a temporary reprieve that'll reduce the amount that needs to be moved from reserves Link to comment Share on other sites More sharing options...
ITV Granada IOM Posted June 22, 2010 Share Posted June 22, 2010 Treasury Minister Anne Craine MHK talks about the UK emergency budget and how VAT increases will help the Island http://www.manxtube.com/video/1851/VAT-goes-up Link to comment Share on other sites More sharing options...
P.K. Posted June 22, 2010 Share Posted June 22, 2010 The budget speech is worth a read. Particulalry good to see that the UK is focusing on getting the cost of the Public Service down - although as always with such promises it is light on how this will be achieved. Traditionally this is achieved by finding "savings" in the operation i.e. it's so nebulous that there is no point challenging it and they won't know where to find these savings because they haven't looked yet but they will find some errr somewhere. So there! I'd like to know how raising VAT hurts those with lots of dosh more than those with eff-all. If you're well off you can economise on luxuries. If everything you buy is a necessity you're bollocksed. But if you're right on the edge you probably don't vote tory anyway - so that's all right then! Link to comment Share on other sites More sharing options...
thebees Posted June 22, 2010 Share Posted June 22, 2010 Hmmmmm I see far more VAT 'mistakes' in the future. Link to comment Share on other sites More sharing options...
Keith brief Posted June 22, 2010 Share Posted June 22, 2010 The one "fair" tax inasmuch as people that pay it choose to pay it. Link to comment Share on other sites More sharing options...
spermann Posted June 22, 2010 Share Posted June 22, 2010 Treasury Minister Anne Craine MHK talks about the UK emergency budget and how VAT increases will help the Island http://www.manxtube.com/video/1851/VAT-goes-up Why would Anne Craine be so stupid to publisise this to UK media?? Link to comment Share on other sites More sharing options...
WTF Posted June 22, 2010 Share Posted June 22, 2010 now is the time to buy a new car then?? Link to comment Share on other sites More sharing options...
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