Film Screening: The Spider’s Web

Dear all,

You might be interested in a new film The Spider’s Web, billed as “an investigation into the world of Britain’s secrecy jurisdictions and the City of London”.

An Isle of Man screening is being organised by the Positive Action Group (PAG):

Date and time: Wednesday 6 September

  • First screening: 6:00 pm
  • Second screening 7:30 pm

Location: The Manx Legion Club, Market Hill, Douglas, Isle of Man

Cost: FREE Continue reading

Isle of Man and offshore finance – a briefing paper (October 2017)

Here’s a briefing paper put together by the Phil Craine, Convenor of TaxWatch, on the background and some of the key areas of interest in the Isle of Man’s offshore industry:

https://iomtaxwatch.files.wordpress.com/2017/10/isle-of-man-offshore-briefing-paper-oct-2017.odt

 

Loss of company tax revenue to the IoM

  • A written reply by the Treasury Minister to a parliamentary question by Lawrie Hooper MHK in June 2017 revealed the total profits earned by all Manx companies wholly-owned by Manx residents in 2015-16 (the latest available). It is £542m. If these profits were taxed at 20%, that would be an extra £108m for the Manx Government. The number of such wholly-owned companies was 7,321 – about one-quarter of all companies registered here:

http://www.tynwald.org.im/business/hansard/20002020/t170620.pdf

Continue reading