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IOMs economic strategy in tatters?


Idleweiss

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8 hours ago, Non-Believer said:

But there's lots more cars to catch in the taxation net and it's about revenue rather than much to do with road repair economics.

Or you could hammer HGVs etc even more for tax on the grounds that it's them doing most damage and then watch as goods and services provided by those vehicles go through the roof in costs passed on by their operators.

Yes I completely agree - my point is taxing cars on weight just to tax EVs higher is just virtue signalling, and would do little to incentivise meaningful 'reduced wear' on the roads..

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3 hours ago, Non-Believer said:

Things like this won't help any strategies either....

Ah, Georgia and Dubai, two states which are right at the pinnacle of global AML/CFT compliance.

Their website is full of this pish:

image.thumb.png.eaab5c696fefd5d7017328895d94d489.png
 

What a huge loss to the island🤣

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On 8/2/2024 at 10:50 PM, A fool and his money..... said:

It's very simple - tax the rich. (Companies and individuals)

OK, to a degree. There's some of that coming down the line with the global 15% tax on large multinationals, but we have to be careful in a tax haven not to kill the golden goose that pays for everything. At the same time as tweaking taxes, it is imperative to cut the size of the public sector bureaucracy.

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9 hours ago, Ringy Rose said:

Ah, Georgia and Dubai, two states which are right at the pinnacle of global AML/CFT compliance.

Their website is full of this pish:

image.thumb.png.eaab5c696fefd5d7017328895d94d489.png
 

What a huge loss to the island🤣

Where do I join? And would they pay for me to view 100+ countries until I find one that I like?🙄

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11 hours ago, Ringy Rose said:

Ah, Georgia and Dubai, two states which are right at the pinnacle of global AML/CFT compliance.

Their website is full of this pish:

image.thumb.png.eaab5c696fefd5d7017328895d94d489.png
 

What a huge loss to the island🤣

And the publicity to other concerns who might be considering moving here?

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25 minutes ago, Non-Believer said:

And the publicity to other concerns who might be considering moving here?

The requirement to have local directors isn’t a secret. It’s also the easiest thing to sort, you just pay a TCSP to be the directors for you. To complain about that is…odd.

I very strongly suspect that the real issue is that these chancers couldn’t find a TCSP who would touch them with a barge pole. People at this stage whining about “too much bureaucracy” usually means they’ve been asked questions as part of a TCSP’s due diligence and that they don’t want to answer them.

Edited by Ringy Rose
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15 hours ago, Non-Believer said:

Things like this won't help any strategies either....

Screenshot_20240905-175733_Facebook.jpg

Full cowboys these guys.  

If having local directors on an IOM Company and also actually doing CDD on clients was too much beaurocracy for them, I'd love to see their reactions if they actually got into the system properly.  No way we would want them and a lucky escape really. 

 

 

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3 hours ago, asitis said:

The bit that is true, is the island is drowning in petty bureaucracy

It’s no different to anywhere else.

MONEYVAL requirements are extremely petty and there is a hell of a lot of bollocks in there. But MONEYVAL/FATF are the self-appointed world police and if you don’t do what they say then you get put on their naughty step. Getting put on the naughty step cost Gibraltar 10% of their GDP- and bear in mind that’s the loss that Gibraltar were prepared to publicly admit to.

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21 minutes ago, Ringy Rose said:

The requirement to have local directors isn’t a secret. It’s also the easiest thing to sort, you just pay a TCSP to be the directors for you. To complain about that is…odd.

I very strongly suspect that the real issue is that these chancers couldn’t find a TCSP who would touch them with a barge pole. People at this stage whining about “too much bureaucracy” usually means they’ve been asked questions as part of a TCSP’s due diligence and that they don’t want to answer them.

Is it a requirement to have local directors, or is it a requirement to demonstrate substance? 

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