Comments on: United Business Media: the real story of its tax http://www.taxresearch.org.uk/Blog/2008/04/28/united-business-media-the-real-story-of-its-tax/ Richard Murphy on tax and corporate accountability Wed, 03 Dec 2008 06:47:02 +0000 http://wordpress.org/?v=2.6 By: Fred Fry http://www.taxresearch.org.uk/Blog/2008/04/28/united-business-media-the-real-story-of-its-tax/#comment-424599 Fred Fry Tue, 29 Apr 2008 03:30:54 +0000 http://www.taxresearch.org.uk/Blog/2008/04/28/united-business-media-the-real-story-of-its-tax/#comment-424599 The point is that these rich people brought the office-end of their shipping companies with them to the UK. They hire UK Citizens who do pay taxes, utilize banks in the UK for financing, use UK lawyers for legal services, use UK brokers and list on the UK stock exchange where UK citizens are more likely to have capital gains which will result in revenue to the State. There is a side effect when these people leave including lost jobs. The great thing is that time will prove if this is an issue or not. I have to say that I am interested to see what happens. The point is that these rich people brought the office-end of their shipping companies with them to the UK.

They hire UK Citizens who do pay taxes, utilize banks in the UK for financing, use UK lawyers for legal services, use UK brokers and list on the UK stock exchange where UK citizens are more likely to have capital gains which will result in revenue to the State. There is a side effect when these people leave including lost jobs.

The great thing is that time will prove if this is an issue or not. I have to say that I am interested to see what happens.

]]> By: Tax Research LLP http://www.taxresearch.org.uk/Blog/2008/04/28/united-business-media-the-real-story-of-its-tax/#comment-424292 Tax Research LLP Mon, 28 Apr 2008 16:47:42 +0000 http://www.taxresearch.org.uk/Blog/2008/04/28/united-business-media-the-real-story-of-its-tax/#comment-424292 Fred Since these people do not flag their ships in the UK, use UK crews or pay much if nay UK tax on their fleets what is the poinht you are seeking to make? Richard Fred

Since these people do not flag their ships in the UK, use UK crews or pay much if nay UK tax on their fleets what is the poinht you are seeking to make?

Richard

]]> By: Fred Fry http://www.taxresearch.org.uk/Blog/2008/04/28/united-business-media-the-real-story-of-its-tax/#comment-424288 Fred Fry Mon, 28 Apr 2008 16:22:29 +0000 http://www.taxresearch.org.uk/Blog/2008/04/28/united-business-media-the-real-story-of-its-tax/#comment-424288 Well this is just part of the story. See today's Lloyd's List for more: "Fears grow over London's shipping status -PROMINENT Greek shipowners who have quit London over an unpopular tax on non-domiciled foreigners have triggered fears at shipping’s highest levels about the City’s demise as the world’s maritime centre. Recent high-profile departures include members of the Goulandris family, which controls a £1.1bn ($2.2bn) shipping empire from offices in Piraeus and London. Inquiries revealed others quitting London include some members of the Fafalios shipping dynasty — more than half a century after first settling in London — and a high-profile Scandanavian owner. " Well this is just part of the story. See today’s Lloyd’s List for more:
“Fears grow over London’s shipping status -PROMINENT Greek shipowners who have quit London over an unpopular tax on non-domiciled foreigners have triggered fears at shipping’s highest levels about the City’s demise as the world’s maritime centre.

Recent high-profile departures include members of the Goulandris family, which controls a £1.1bn ($2.2bn) shipping empire from offices in Piraeus and London.

Inquiries revealed others quitting London include some members of the Fafalios shipping dynasty — more than half a century after first settling in London — and a high-profile Scandanavian owner. “

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