IOMRS97 Posted April 3, 2016 Share Posted April 3, 2016 (edited) Hopefully the Isle of Man shouldn't get a mention in this as we aren't a tax haven. http://news.sky.com/story/1672075/offshore-accounts-of-world-leaders-revealed Edited April 3, 2016 by IOMRS97 1 Quote Link to comment Share on other sites More sharing options...
Tarne Posted April 3, 2016 Share Posted April 3, 2016 We're already mentioned quite a bit in it. I've got a thread on World News as it's got the potential to be a big stinker Quote Link to comment Share on other sites More sharing options...
NoTail Posted April 3, 2016 Share Posted April 3, 2016 A few in Athol Street will be a bit nervous. 1 Quote Link to comment Share on other sites More sharing options...
Roger Mexico Posted April 3, 2016 Share Posted April 3, 2016 No we're not a tax haven at all: What is Mossack Fonseca? It is a Panama-based law firm whose services include incorporating companies in offshore jurisdictions such as the British Virgin Islands. It administers offshore firms for a yearly fee. Other services include wealth management. Where is it based? The firm is Panamanian but runs a worldwide operation. Its website boasts of a global network with 600 people working in 42 countries. It has franchises around the world, where separately owned affiliates sign up new customers and have exclusive rights to use its brand. Mossack Fonseca operates in tax havens including Switzerland, Cyprus and the British Virgin Islands, and in the British crown dependencies Guernsey, Jersey and the Isle of Man. How big is it? Mossack Fonseca is the world’s fourth biggest provider of offshore services. It has acted for more than 300,000 companies. There is a strong UK connection. More than half of the companies are registered in British-administered tax havens, as well as in the UK itself. It looks as if it will be very big indeed. The number of documents is larger than either Wikileaks or the Snowden papers and a lot of journalists have been working in a lot of countries on the over the years. 1 Quote Link to comment Share on other sites More sharing options...
Manx Posted April 3, 2016 Share Posted April 3, 2016 It's more like a tax hell for the average person on the street. 2 Quote Link to comment Share on other sites More sharing options...
thesultanofsheight Posted April 3, 2016 Share Posted April 3, 2016 (edited) A few in Athol Street will be a bit nervous. Indeed. They've had a small rep office here for a good number of years and there will be a lot of cross connectivity with local structures. Edited April 3, 2016 by thesultanofsheight Quote Link to comment Share on other sites More sharing options...
Roger Mexico Posted April 3, 2016 Share Posted April 3, 2016 (edited) A few in Athol Street will be a bit nervous. And presumably even more in Hill Street. Edited April 3, 2016 by Roger Mexico 4 Quote Link to comment Share on other sites More sharing options...
Tarne Posted April 3, 2016 Share Posted April 3, 2016 And presumably even more in Hill Street. Hahahaha, nice one Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted April 3, 2016 Share Posted April 3, 2016 Allan and Eddie say we're not, though... 1 Quote Link to comment Share on other sites More sharing options...
the stinking enigma Posted April 3, 2016 Share Posted April 3, 2016 are their names on the list too? Quote Link to comment Share on other sites More sharing options...
GaryPotter Posted April 3, 2016 Share Posted April 3, 2016 On the plus side this makes us look slightly better over things like KSFIOM http://www.bbc.co.uk/news/world-europe-35918846 These are claims he ensured creditors of Icelandic Banks weren't repaid as if the banks did so the bonds he secretly owned in those banks would be worthless. Can't see him lasting the week myself. Quote Link to comment Share on other sites More sharing options...
slinkydevil Posted April 3, 2016 Share Posted April 3, 2016 http://panamapapers.sueddeutsche.de/articles/56febff0a1bb8d3c3495adf4/ Quote Link to comment Share on other sites More sharing options...
GD4ELI Posted April 3, 2016 Share Posted April 3, 2016 http://panamapapers.sueddeutsche.de/articles/56febff0a1bb8d3c3495adf4/ This will be (is already) massive. Monster massive. There will be significant fall-out... Quote Link to comment Share on other sites More sharing options...
thesultanofsheight Posted April 3, 2016 Share Posted April 3, 2016 http://panamapapers.sueddeutsche.de/articles/56febff0a1bb8d3c3495adf4/ This will be (is already) massive. Monster massive. There will be significant fall-out... Yes, you'll be able to wallow in your smug Cornish hideaway and get off on this for years as it's another piece of potential doom about an Island you have a loose connection with. You do have to consider the timing of this with the UK set to be more transparent on beneficial owners of companies, and the pressure on the Dependencies over the same. That makes the timing of the leak very coincidental. However if you wanted to pick a jurisdiction where all the dirt is buried it's there not here though. This is a significant issue for all the dependencies though. 3 Quote Link to comment Share on other sites More sharing options...
GD4ELI Posted April 3, 2016 Share Posted April 3, 2016 http://panamapapers.sueddeutsche.de/articles/56febff0a1bb8d3c3495adf4/ This will be (is already) massive. Monster massive. There will be significant fall-out... Yes, you'll be able to wallow in your smug Cornish hideaway and get off on this for years as it's another piece of potential doom about an Island you have a loose connection with. You do have to consider the timing of this with the UK set to be more transparent on beneficial owners of companies, and the pressure on the Dependencies over the same. That makes the timing of the leak very coincidental. However if you wanted to pick a jurisdiction where all the dirt is buried it's there not here though. This is a significant issue for all the dependencies though. The rock is a *very* small player compared to this lot. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.