From the EU Isle of Man web site:
I think they may have some explaining to do after tonight's Panorama.
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Doubt they’ll have much, or anything to explain Richard. Near enough whole of the island’s government is hard right wing Tory, they’ll secretly applaud the tax people.
All that’ll happen will be soothing noises ” the Manx government upholds the highest standard ” etc., etc., then things will go on much the same as before.
As a true Manxman I deplore the depths to which our right wing, unopposed, Tory government seems quite happy to descend in the cause of tax dodging. None of which brings much benefit to the island as a whole, the only types to benefit are property developers and the few farmers whose best crop is bungalows.
Nothing will come of this. If the UK wants to stop the crown dependencies and overseas territories from being off shore finance centres, then the UK would have to impose direct rule.
That would cost money. The UK would have to extend the NHS and social services to the territories.
That is one reason nothing will be done about this.
The other reason is that the tax lawyers and tax accountants employed in this industry are a lot smarter and better resourced than the tax justice campaigners and the SJWs. It’s like watching a person ridding a llama trying to win the Indy500.
So I will stay neutral on this issue. It is the only sane thing to do.
In the face of abuse you stay neutral
For evil to happen it only takes a good man to stay silent
You might want to muse on that
“the UK would have to impose direct rule. That would cost money.”
Seriously? FFS. Looking at it in those terms alone (if one must) I think that suggestion would easily survive a comprehensive cost/benefit analysis.
I agree
Entirely
There are hidden dangers here: some institutions within the United Kingdom appear to be pursuing the ‘Hard Brexit’ agenda by committing acts calculated to alienate European governments and overseas public opinion.
Obviously, a tax haven would seek to escape the regulatory oversight of the EU; but it might me more interesting to examine the motives of the ‘Ukip Broadcasting Corporation’, who are all too eager to give credibility and airtime to the Taxpayers Alliance, but have now ‘discovered’ tax evasion that is almost as damaging to our European partners as it is to the United Kingdom.
This is one more reason for European governments to want us out of the EU: some of them, to protect their tax revenues; others, to divert the revenue to their own tax havens.
On balance, this is better off in the open, even now: but we would do well to examine the motives in play.
.
interesting that PwC dosent have an IOM office – reference your other blog post about the big 4 being in all the tax havens?
You need to learn to use Google
https://www.pwc.com/im/en/
This is a deliberate diversion to distract from KPMG, Deloittes.
The trick is like that used by small banks. Tell a false rumour about a good rival bank the depositors take out cash and put it in your weaker bank.
KPMG have plenty of dodgy deals with S africa and that GRG unit of Natwest RBS and every time they were brought in Deloittes cake to to share the feast of fees