For eight long years the tax havens of the world survived because of the backing of George Bush.
That support has now been swept away.
Not just swept away, but removed by a man who has very publicly promised to change that policy.
It leaves Gordon Brown very exposed. he is now very obviously the biggest supporter of [...]
Alistair Darling said this to the Treasury Select Committee yesterday:
I would just add another thing, I actually think having looked at what has happened over the last few months we really do need to have a long hard look about the relationship between this country and the Isle of Man - a ‘tax haven’ sitting [...]
My friends down at Private Eye have been doing the sort of thing that only they do best, like asking awkward questions.
Having noted questions here about the future of offshore activity by our nationalised banks they thought they’d pop a question or two to our favourite offshore banks: you know, the ones who housed the [...]
You couldn’t make this up.
The Isle of Man Bank is the sole note issuer for the Isle of Man.
And it is owned by the Royal Bank of Scotland.
And so it now owned by HM government of the UK.
Interesting….
Also filed in
|
|
The Times has reported (in edited form):
Wealthier investors who have stashed their cash in offshore bonds could lose their nest eggs after the schemes became embroiled in the Icelandic banking crisis. British investors have as much as £5 billion in the schemes, most of which have a minimum investment of £100,000 and are often used [...]
Also filed in
|
|
The Guardian has reported:
British savers with deposits in the Channel Islands have no protection for their money if their bank goes bust.
After the collapse of Icesave - and the failure of Iceland’s deposit protection scheme - concern is growing that the tiny island tax havens will leave savers deeply exposed.
Let’s be clear: these places need [...]
Tax News.com has an amazing story. It says:
The positive part played by the Isle of Man in the global war against financial crime has been highlighted by a key official from one of the US Treasury’s main anti-money laundering agencies.
William F. Baity - Deputy Director of FinCen, the Financial Crimes Enforcement Network - spoke of [...]
The Telegraph has reported that:
A row has broken out between the Channel Islands and the European Union over a decision to leave the tax havens off a ‘white list’ of countries deemed to have satisfactory controls against money-laundering.
Jersey, Guernsey and the Isle of Man have been placed by the EU on an ‘intermediate’ list of [...]
I note that whilst I was away there was some comment on the UK’s overseas tax haven territories not making it to the EU’s ‘white list’ of locations with equivalent money laundering standards to the UK despite places like Russia doing so.
I am not at all surprised. Places like Argentina, Australia, Brazil, Canada, Hong Kong, [...]
It was good to celebrate my 50th birthday this morning reading an excellent article in the Guardian with the above title. As the sub-title said:
Jersey’s status as a tax haven has made it one of the richest places on Earth. But there is a widening gulf between the millionaires of the financial sector and locals [...]
