Barrie Stevens Posted November 14, 2010 Share Posted November 14, 2010 I would like to welcome myself to this forum and give readers the opportunity to read, digest & reply to my comments, Unlike some contributors I am not an axe-grinding polemicist, I merely seek to inform and stimulate debate. Such talks on raising £10bn will soon be unnecessary. Somewhere low on the agenda at this weeks G20 was an item with far reaching consequences for the Isle of Man. It was the Treaty on Euro – American Territorial Oceans or TEATO for short. Although its purpose is supposed to be to formalise defence obligations the real power of this bill will be to neutralise tax havens. Under this agreement all seas between Europe and the US in a line bounded on the south from the Straits of Gibraltar to the Panama Canal and north from Spitsbergen to Nova Scotia will be divided equally between the EU and the US. Any islands within this area (with the exception of Cuba) not governed directly by the two main powers will be deemed to be in breach of territory, in other words, trespassing. Such island states will then be invited to leave the sovereign territory, which is physically impossible, or be annexed into the nearest recognised country. Not even I! Could the esteemed Barry etc give us a lead 'cos I find nothing. Further, the IOM constitutional situation is too strong. They could not force the Island to join anything (unless broke) and the idea of being run from Birkenhead. (Nice laugh. Must be April 1st in Astral Planes) Whilst this is obviously an American incentive designed to stamp out low tax jurisdictions in the Caribbean the rules will apply equally to British islands which will inevitably surrender independence. Tynwald and all the 33 local commissions councils etc. will be dissolved and administration will be from the nearest local council allocated by post code. For instance Jersey will be administered by the commune of Cherbourg under the Manche Départment of Normandy . Because of an anomaly in the post coding of the UK the Isle of Man will be administered by Birkenhead Borough Council and represented nationally by Frank Field MP ( Lab majority 5,906). It is expected that ex Tynwald ministers, MHKs and local government members will be encouraged to stand in the Wirral area local elections in order to secure representation for the island but it seems doubtful given their lack of experience on the mainland that they will make much headway against seasoned local councillors As I said at the beginning, I am not here to pontificate. Merely to keep readers “in the loop” as it were Cheers Barry Why would anyone waste 10 minutes of their time typing out such drivel? It beggars belief. I thought it was funny! Link to comment Share on other sites More sharing options...
Barrie Stevens Posted November 14, 2010 Share Posted November 14, 2010 You wouldn't be Barry Stevens by any chance? I really don't see the scenario you refer to being implementable. More like an old-fashioned agreement on zones of influence where each side agrees to allow the other to run things in its' zone without undue interference from the other side. Not me! Not even me! (Birkenhead?) Link to comment Share on other sites More sharing options...
Cambon Posted November 15, 2010 Share Posted November 15, 2010 I really don't see the scenario you refer to being implementable. More like an old-fashioned agreement on zones of influence where each side agrees to allow the other to run things in its' zone without undue interference from the other side. Actually, he is sort of right. It is called the European Economic Jurisdiction Information Treaty, or EEJIT for short. Link to comment Share on other sites More sharing options...
Slim Posted November 15, 2010 Share Posted November 15, 2010 http://www.bbc.co.uk...siness-11749085 The three tax havens involved in the talks have not been identified. The Financial Times reported that Jersey, Guernsey and the Isle of Man had all denied being approached by the Treasury. Head in the sand time... They haven't spoken to us - we'll be okay, sssh. I gather in this context the tax havens are the grey list ones. We're not included in that list and we already have information exchange agreements. it's not a case of head in the sand, it's a case of already being prepared and having the solution in place. Exactly the opposite in fact. Link to comment Share on other sites More sharing options...
Evil Goblin Posted November 15, 2010 Share Posted November 15, 2010 Looks like Jersey and the IoM are going to be in talks anyway! http://www.taxresearch.org.uk/Blog/2010/11/15/jersey-and-the-isle-of-man-fail-the-eu-code-of-conduct-on-business-taxation/ Link to comment Share on other sites More sharing options...
manxy Posted November 15, 2010 Share Posted November 15, 2010 Looks like Jersey and the IoM are going to be in talks anyway! http://www.taxresearch.org.uk/Blog/2010/11/15/jersey-and-the-isle-of-man-fail-the-eu-code-of-conduct-on-business-taxation/ Blast! I didn't realise I was going onto Murphy the Mole's website. Pity we couldn't just charge companies 20% tax, give them 20% as a free gift and then charge the Uk treasury the difference between the UK and IOM. The .eu Code of Conduct is a self-regulating body to which .eu accredited registrars can subscribe should they wish to distinguish themselves as offering a best in class service within the domain name industry. Do we have to register with them? Please save yourself the bother of ribbing it to bits, as I haven't a clue what I said and was just irritated by MTM (Murphy the Mole). Link to comment Share on other sites More sharing options...
Boo Gay'n Posted November 15, 2010 Share Posted November 15, 2010 Looks like Jersey and the IoM are going to be in talks anyway! http://www.taxresearch.org.uk/Blog/2010/11/15/jersey-and-the-isle-of-man-fail-the-eu-code-of-conduct-on-business-taxation/ Blast! I didn't realise I was going onto Murphy the Mole's website. Pity we couldn't just charge companies 20% tax, give them 20% as a free gift and then charge the Uk treasury the difference between the UK and IOM. The .eu Code of Conduct is a self-regulating body to which .eu accredited registrars can subscribe should they wish to distinguish themselves as offering a best in class service within the domain name industry. Do we have to register with them? Please save yourself the bother of ribbing it to bits, as I haven't a clue what I said and was just irritated by MTM (Murphy the Mole). Murphy has moles, he isn't one. Link to comment Share on other sites More sharing options...
P.K. Posted November 17, 2010 Share Posted November 17, 2010 That nice Richard Murphy with some more rumours factual reporting here. Link to comment Share on other sites More sharing options...
manshimajin Posted November 17, 2010 Share Posted November 17, 2010 From IOM Today. Apparently the VAT agreement was raised again in the UK Commons by a Lib Dem who was asking if the UKG intended to renegotiate the current arrangements: Mr Gauke (Cons) said: ‘We remain committed to ensuring that the indirect tax revenue sharing agreement with the Isle of Man provides the Isle of Man with the revenue that they would collect if they ran a separate indirect tax system.’ Economic Development Minister Allan Bell MHK said he did not think this represented a change in policy. He said: ‘I think this is continuing the policy of the UK Treasury to try and identify a formula that offers a fair redistribution of revenues.’ Asked whether that could mean we would get a smaller share of the revenue pool, Mr Bell admitted: ‘It’s difficult to say’. Link to comment Share on other sites More sharing options...
P.K. Posted November 17, 2010 Share Posted November 17, 2010 Mr Gauke (Cons) said: ‘We remain committed to ensuring that the indirect tax revenue sharing agreement with the Isle of Man provides the Isle of Man with the revenue that they would collect if they ran a separate indirect tax system.’ Economic Development Minister Allan Bell MHK said he did not think this represented a change in policy. He said: ‘I think this is continuing the policy of the UK Treasury to try and identify a formula that offers a fair redistribution of revenues.’ Asked whether that could mean we would get a smaller share of the revenue pool, Mr Bell admitted: ‘It’s difficult to say’. A classic NFC moment... Link to comment Share on other sites More sharing options...
Slim Posted November 17, 2010 Share Posted November 17, 2010 That nice Richard Murphy with some more rumours factual reporting here. Some more balanced and less smug reporting on the FT. Link to comment Share on other sites More sharing options...
thesultanofsheight Posted November 17, 2010 Share Posted November 17, 2010 Asked whether that could mean we would get a smaller share of the revenue pool, Mr Bell admitted: ‘It’s difficult to say’. When asked who was the junior partner and senior partner in this revenue sharing arrangement Mr Bell replied "That's bloody obvious". Link to comment Share on other sites More sharing options...
Cambon Posted November 18, 2010 Share Posted November 18, 2010 That nice Richard Murphy with some more rumours factual reporting here. Some more balanced and less smug reporting on the FT. Murphy would do better looking closer to home! http://uk.finance.yahoo.com/news/Tax-havens-heart-EU-tele-4228980898.html?x=0 Link to comment Share on other sites More sharing options...
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