Banker Posted June 4, 2021 Share Posted June 4, 2021 Looks like tax agreement close , reported on sky that tax havens will be impacted https://www.bbc.co.uk/news/business-57349803 Quote Link to comment Share on other sites More sharing options...
Max Power Posted June 4, 2021 Share Posted June 4, 2021 8 minutes ago, Banker said: Looks like tax agreement close , reported on sky that tax havens will be impacted https://www.bbc.co.uk/news/business-57349803 Well we'll be okay then, not being a tax haven. Or so I'm told? 1 Quote Link to comment Share on other sites More sharing options...
pongo Posted June 4, 2021 Author Share Posted June 4, 2021 4 hours ago, Flyingfemme said: As we do now - the seller charges VAT (or equivalent). But companies are not the subject of spending taxation; only the end consumer pays (as is always the case). All this smoke and mirrors, trying to persuade the man in the street that "somebody else" is paying the tax is just pointless! In many cases a company really is a customer of another company. Especially in the services sectors. Abolishing corporation taxes feels like it was once a very good idea. Especially where they created employment. But it makes less and less sense in an era in which companies employ ever fewer people. Obviously there is a strong justification for not taxing primary or secondary employers. Little justification for not taxing the clients of a brass plaque behind which sit hundreds of companies employing a handful of people. Quote Link to comment Share on other sites More sharing options...
2112 Posted June 4, 2021 Share Posted June 4, 2021 43 minutes ago, Max Power said: Well we'll be okay then, not being a tax haven. Or so I'm told? We are like a person who has an addiction. As with an addiction, we need to face up to the issues, admit them before going forward. Our Politicos refuse to admit to anything. Everything in the garden is rosy, we are better than you ………….. cue dick waving competition against our competitors, which is achieving nothing. Our politicos need to face realities, taxes will have the change or this island may be forced by the weight of criticism. Maybe we can be a force for change, no matter how unpalatable it may be. If we think outside the box, be creative, imaginative and bold, we may come up with something that create positive publicity for the island, and bring the island an income. Quote Link to comment Share on other sites More sharing options...
pongo Posted June 4, 2021 Author Share Posted June 4, 2021 More specifically @2112 , what exactly do you propose? 1 Quote Link to comment Share on other sites More sharing options...
The Dog's Dangly Bits Posted June 4, 2021 Share Posted June 4, 2021 13 minutes ago, 2112 said: We are like a person who has an addiction. As with an addiction, we need to face up to the issues, admit them before going forward. Our Politicos refuse to admit to anything. Everything in the garden is rosy, we are better than you ………….. cue dick waving competition against our competitors, which is achieving nothing. Our politicos need to face realities, taxes will have the change or this island may be forced by the weight of criticism. Maybe we can be a force for change, no matter how unpalatable it may be. If we think outside the box, be creative, imaginative and bold, we may come up with something that create positive publicity for the island, and bring the island an income. You never cease to amaze me. Just when I think you couldn't get any more clueless you trump it. Well played. What are you on about "our politicos have to face reality " about taxes? What do you think Bell embraced and pushed and we started exchanging information in 2005? The island has been absolutely at the forefront of complying with requirements. It's bizarre to suggest anything else really. The island has actually also done a significant amount to move away from tax as a primary driver in business or structures here. It's nowhere near the amount of business you think it is. What's your bright idea or ideas then? Easy to criticise and do fuck all. Quote Link to comment Share on other sites More sharing options...
finlo Posted June 4, 2021 Share Posted June 4, 2021 36 minutes ago, The Dog's Dangly Bits said: You never cease to amaze me. Just when I think you couldn't get any more clueless you trump it. Well played. What are you on about "our politicos have to face reality " about taxes? What do you think Bell embraced and pushed and we started exchanging information in 2005? The island has been absolutely at the forefront of complying with requirements. It's bizarre to suggest anything else really. The island has actually also done a significant amount to move away from tax as a primary driver in business or structures here. It's nowhere near the amount of business you think it is. What's your bright idea or ideas then? Easy to criticise and do fuck all. If it wasn't for Peel knocking shop's could be the next best thing! Quote Link to comment Share on other sites More sharing options...
Gladys Posted June 4, 2021 Share Posted June 4, 2021 26 minutes ago, The Dog's Dangly Bits said: You never cease to amaze me. Just when I think you couldn't get any more clueless you trump it. Well played. What are you on about "our politicos have to face reality " about taxes? What do you think Bell embraced and pushed and we started exchanging information in 2005? The island has been absolutely at the forefront of complying with requirements. It's bizarre to suggest anything else really. The island has actually also done a significant amount to move away from tax as a primary driver in business or structures here. It's nowhere near the amount of business you think it is. What's your bright idea or ideas then? Easy to criticise and do fuck all. Substance, that was the game changer, IMHO. It was a threat that could have been changed to an opportunity that would result in many more jobs, businesses and expertise. Instead, it was just another hurdle to cross. So, we still have an industry 'managing' umpty squillions of assets by people who have the barest idea of how to arrange their own affairs. 3 Quote Link to comment Share on other sites More sharing options...
AlanShimmin Posted June 4, 2021 Share Posted June 4, 2021 Maybe this is the seismic shock that the IOMG Machine finally needs to tear it a new one. 2 Quote Link to comment Share on other sites More sharing options...
pongo Posted June 4, 2021 Author Share Posted June 4, 2021 30 minutes ago, AlanShimmin said: Maybe this is the seismic shock that the IOMG Machine finally needs to tear it a new one. Well that's easy to say, without really saying anything. And also sounds quite tough-man. So well done. But Isn't this actually about people's jobs? How they pay they're bills and stuff. Quote Link to comment Share on other sites More sharing options...
Gladys Posted June 4, 2021 Share Posted June 4, 2021 4 minutes ago, pongo said: Well that's easy to say, without really saying anything. And also sounds quite tough-man. So well done. But Isn't this actually about people's jobs? How they pay they're bills and stuff. Of course it is. But we really do have to accept that we do not have brilliant international property dealers, yacht or plane owners, stock market traders, e.commerce dilitantes, or investment gurus. What we have is the ability to support those entrepreneurs and we should have been positioning ourselves to do just that. Instead of pretending to be the front office we should have been reassessing what we were and that is a good (ish) quality back office. 1 Quote Link to comment Share on other sites More sharing options...
AlanShimmin Posted June 4, 2021 Share Posted June 4, 2021 30 minutes ago, pongo said: Well that's easy to say, without really saying anything. And also sounds quite tough-man. So well done. But Isn't this actually about people's jobs? How they pay they're bills and stuff. You realise the current course we're headed on (even without this) is totally unsustainable? A crash is coming one way or another. Quote Link to comment Share on other sites More sharing options...
pongo Posted June 4, 2021 Author Share Posted June 4, 2021 16 minutes ago, AlanShimmin said: You realise the current course we're headed on (even without this) is totally unsustainable? Don't forget that I started this thread. Not for fun. But doom and gloom rhetoric is always rather silly and pointless. Have you got any specific numbers - estimates even? How much of the economy? How many jobs? Quote Link to comment Share on other sites More sharing options...
NoTail Posted June 4, 2021 Share Posted June 4, 2021 1 minute ago, pongo said: Don't forget that I started this thread. Not for fun. But doom and gloom rhetoric is always rather silly and pointless. Have you got any specific numbers - estimates even? How much of the economy? How many jobs? Good questions, I suspect the tax haven stuff is mostly long gone. The remaining bits are not important. We seem to be attracting people with large amounts of capital to live here, like in late 60s early 70s. Maybe that is our future source of wealth. Quote Link to comment Share on other sites More sharing options...
Gladys Posted June 4, 2021 Share Posted June 4, 2021 (edited) 21 minutes ago, pongo said: Don't forget that I started this thread. Not for fun. But doom and gloom rhetoric is always rather silly and pointless. Have you got any specific numbers - estimates even? How much of the economy? How many jobs? A lot. Not that I relish it or gloat, but this is a pretty fundamental shift. Edited June 4, 2021 by Gladys 1 Quote Link to comment Share on other sites More sharing options...
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