Comments on: The Isle of Man - $200 billion of tax evaded funds http://www.taxresearch.org.uk/Blog/2007/11/20/the-isle-of-man-200-billion-of-tax-evaded-funds/ Richard Murphy on tax and corporate accountability Wed, 03 Dec 2008 20:36:22 +0000 http://wordpress.org/?v=2.6 By: Richard Murphy http://www.taxresearch.org.uk/Blog/2007/11/20/the-isle-of-man-200-billion-of-tax-evaded-funds/#comment-442685 Richard Murphy Sat, 31 May 2008 10:19:31 +0000 http://www.taxresearch.org.uk/Blog/2007/11/20/the-isle-of-man-200-billion-of-tax-evaded-funds/#comment-442685 Barrie Your logic is impeccable: it is clear that most people in the Crown Dependencies get all the benefits of being British and have none of the responsibilities (but note: Protocol 3 passport holders do not have this benefit). How much is lost? Marty Sullivan says $1 trillion is held in these places. That's $50 billio0n of income, at an average of 30% that's $15 billion lost, or £7 billion or so. Of course, not all would be recovered. But it would be a step on the way. It's more than the GDP of the Crown Dependencies. Think on that as the price of rights without responsibilities in these places. Richard Barrie

Your logic is impeccable: it is clear that most people in the Crown Dependencies get all the benefits of being British and have none of the responsibilities (but note: Protocol 3 passport holders do not have this benefit).

How much is lost? Marty Sullivan says $1 trillion is held in these places. That’s $50 billio0n of income, at an average of 30% that’s $15 billion lost, or £7 billion or so.

Of course, not all would be recovered. But it would be a step on the way.

It’s more than the GDP of the Crown Dependencies. Think on that as the price of rights without responsibilities in these places.

Richard

]]> By: Barrie Stevens http://www.taxresearch.org.uk/Blog/2007/11/20/the-isle-of-man-200-billion-of-tax-evaded-funds/#comment-438189 Barrie Stevens Sat, 24 May 2008 00:06:31 +0000 http://www.taxresearch.org.uk/Blog/2007/11/20/the-isle-of-man-200-billion-of-tax-evaded-funds/#comment-438189 The Isle of Man and Channel Islands are not independent but separate jurisdictions part of the British state ie part of Britain known as "the British Islands" but not in the UK. So as the Isle of Man Appeal Court with its address in Manchester has long since held that the Isle of Man Government has no independent legal existence, and the Manx Treasury comes under the Crown, and by convention Westminster rarely interferes openly and directly for constitutional reasons how much tax revenue is being lost annually by such artificial niceties? Why doesn't the UK govt merely put down real pressure, say, "You're British. We are your superiors. Its our tax. Give us the accounts. We want to collect it now". Currently, tax collectors from the UK get thrown off the Isle of Man and in the past have been locked in the cells. I have an Isle of Man passport. It is 100% British marked EU and Isle of Man "British Islands" issued by the Lt. Governor. In the past month I have temporarily left the Island and using my National Insurance paid on the Isle of Man to Isle of Man Government have been able to collect a full range of unemployed benefits, social housing, NHS, NHS dentist, Council tax benefits etc. So with an Isle of Man passport I am as British as anyone and am treated as such yet the UK tax authorities lose X billion Pounds a year to an Island which Britain owns and which has the Queen in Privy Council as Head of State and whose laws require the Royal Assent just like Westminster. The Channel Islands are similarly placed. So how much tax could we get back if we simply said hand it over and damn the (unwritten) constitutional conventions. Have you a total? 2:Barrie Stevens 4 Leigh Terrace Douglas Isle of Man barriestevens@manx.net The Isle of Man and Channel Islands are not independent but separate jurisdictions part of the British state ie part of Britain known as “the British Islands” but not in the UK. So as the Isle of Man Appeal Court with its address in Manchester has long since held that the Isle of Man Government has no independent legal existence, and the Manx Treasury comes under the Crown, and by convention Westminster rarely interferes openly and directly for constitutional reasons how much tax revenue is being lost annually by such artificial niceties? Why doesn’t the UK govt merely put down real pressure, say, “You’re British. We are your superiors. Its our tax. Give us the accounts. We want to collect it now”. Currently, tax collectors from the UK get thrown off the Isle of Man and in the past have been locked in the cells. I have an Isle of Man passport. It is 100% British marked EU and Isle of Man “British Islands” issued by the Lt. Governor. In the past month I have temporarily left the Island and using my National Insurance paid on the Isle of Man to Isle of Man Government have been able to collect a full range of unemployed benefits, social housing, NHS, NHS dentist, Council tax benefits etc. So with an Isle of Man passport I am as British as anyone and am treated as such yet the UK tax authorities lose X billion Pounds a year to an Island which Britain owns and which has the Queen in Privy Council as Head of State and whose laws require the Royal Assent just like Westminster. The Channel Islands are similarly placed. So how much tax could we get back if we simply said hand it over and damn the (unwritten) constitutional conventions. Have you a total? 2:Barrie Stevens 4 Leigh Terrace Douglas Isle of Man barriestevens@manx.net

]]> By: Denis A http://www.taxresearch.org.uk/Blog/2007/11/20/the-isle-of-man-200-billion-of-tax-evaded-funds/#comment-388827 Denis A Mon, 25 Feb 2008 01:58:13 +0000 http://www.taxresearch.org.uk/Blog/2007/11/20/the-isle-of-man-200-billion-of-tax-evaded-funds/#comment-388827 Richard R sounds very typical of the people currently polluting the Isle of Man, enthusiastically helping to lay waste a beautiful island motivated solely by greed. Richard R sounds very typical of the people currently polluting the Isle of Man, enthusiastically helping to lay waste a beautiful island motivated solely by greed.

]]> By: Tax Research LLP http://www.taxresearch.org.uk/Blog/2007/11/20/the-isle-of-man-200-billion-of-tax-evaded-funds/#comment-385243 Tax Research LLP Tue, 19 Feb 2008 14:58:57 +0000 http://www.taxresearch.org.uk/Blog/2007/11/20/the-isle-of-man-200-billion-of-tax-evaded-funds/#comment-385243 Richard Go on then, Name all the others and suggest why secrecy (which is implict in the Isle of Man) has any role to play in them. Then explain why most people in the Isle of Man who could opt for automatic information exchange do not do so and how this fact can be used to explain their willingness to comply with the requirements of their domestic taxation law. I look forward to your reply. Richard Richard

Go on then, Name all the others and suggest why secrecy (which is implict in the Isle of Man) has any role to play in them.

Then explain why most people in the Isle of Man who could opt for automatic information exchange do not do so and how this fact can be used to explain their willingness to comply with the requirements of their domestic taxation law.

I look forward to your reply.

Richard

]]> By: Richard R http://www.taxresearch.org.uk/Blog/2007/11/20/the-isle-of-man-200-billion-of-tax-evaded-funds/#comment-385241 Richard R Tue, 19 Feb 2008 14:52:51 +0000 http://www.taxresearch.org.uk/Blog/2007/11/20/the-isle-of-man-200-billion-of-tax-evaded-funds/#comment-385241 "are likely to be illegally avoiding tax". What is the basis of this assumption? There are many reasons why one might wish to hold assets offshore, and I suspect that tax evasion is the least likely scenario. Richard R “are likely to be illegally avoiding tax”.

What is the basis of this assumption? There are many reasons why one might wish to hold assets offshore, and I suspect that tax evasion is the least likely scenario.

Richard R

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