Finally, and at long last, the EU Monetary Affairs Committee votes on IFRS 8 tonight.
Rumour has it the IASB is not going to be happy.
The Jersey Evening Post had an article in its pages on Friday with the title:
Any truth in Murphy’s Law?
The Murphy is question turned out to be:
arch enemy of tax havens Richard Murphy.
I know that’s me because they referred to my blog from last Monday on the Isle of Man failing to secure EU approval for [...]
I’m grateful to friends in Jersey for sending me a letter sent to all members of the States of Jersey on Monday by Terry Le Sueur, Jersey’s finance minister.
Terry’s been reading my blog. And in particular the one about the Isle of Man failing to secure EU approval for its tax regime.
He says:
He’s right on [...]
On Friday the Isle of Man confirmed the story trailed here on 16 October that its tax system, which it claimed complied with the requirements of the EU Code of Conduct for Business Taxation, has failed to secure the approval of the European Commission. As the Isle of Man press release on the issue said:
The [...]
After a week away, and off the web, it’s amazing to come back to good news.
There’s none better than the decision of the European Parliament’s Economic and Monetary Affairs Committee to defer approval of IFRS 8, again. Only Accountancy Age has reported this, but it was on the Committee’s agenda for 22 October, as a [...]
I have tried to get a straight answer from the Isle of Man on whether their 0 / 10 tax legislations has been approved by the EU Code of Conduct on Business Taxation group. I asked:
Has the IoM’s version of 0/10 legislation been approved in full by the EC Code of Conduct group, or not?
I [...]
The FT has reported that Gerrit Zalm, who will on Thursday be announced as the new chairman of the trustees of the International Accounting Standards Board has said:
Europe should not develop its own version of accounting standards or it will risk torpedoing the global effort to produce a single standard.
As the FT notes, this could [...]
I noted the following comment in the FT in a discussion on tax havens:
The EU staged a crackdown on “harmful tax practices”, including un-equal treatment of residents and non-residents.
“It was seen as harmful to ring-fence the local tax infrastructure from that which applied to non-residents,” says Greg Jones, KPMG tax director on the Isle of [...]
I couldn’t have put this better, so I won’t try. It’s by Jenni Russell in the Guardian:
Within hours of last week’s announcement of audacious Tory plans to cut inheritance tax and hit the foreign super-rich instead, Labour figures were explaining to me why such proposals were wrong in principle as well as practice. You couldn’t, [...]
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The Observer reported this weekend that:
Of the £188m raised by political parties from donations since 2001, some £17.5m, or 9.3 per cent, comes from those who have declared themselves to be non-domicile or are very likely to enjoy that status. Labour has received £8.9m from non-doms or suspected non-doms. The Tories have received £5.6m.
The answer [...]
