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Shetland Islands blacklisted


manxman
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As some of you may know, the G20 - the collective organisation of the world's largest and wealthiest nations - is meeting in a couple of weeks' time to draw up a blacklist of tax havens against whom sanctions will be implemented.

 

Surprisingly enough, Switzerland - widely considered the world's most abusive haven, thanks to its cast-iron banking secrecy - is off the list, presumably because it is big and powerful enough to hit back at its aggressors.

 

My home, the Isle of Man, is not currently on the blacklist, although I suspect that could change, since we are not big enough to stand up for ourselves. However, you may be interested to know that, according to the following article, Shetland is to be blacklisted:

 

http://www.guardian.co.uk/business/2009/mar/20/g20-tax-haven-blacklist

 

I didn't even know you had any offshore banking business to start with. I wonder what other hitherto unknown tax havens we can expect to be included here? Canvey Island? Hayling Island? The Isle of Dogs?

 

Truly the lunatics have taken over the asylum.

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.. according to the following article, Shetland is to be blacklisted:

 

http://www.guardian.co.uk/business/2009/mar/20/g20-tax-haven-blacklist

My first reaction reading this was a typical cringe with respect to the "Shetlands" term. I then pondered if that was in fact a clue, perhaps the reporter meant the South Shetlands? It would be conceivable that such a territory is being used in the typical offshore haven manner. The obvious next step was to check the original OECD list. Couldn't find it.

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Is this what they call "jounalism"?

 

I don't think that South Shetland is a tax haven but you never know lol

 

Are the South Shetland Islands administered by the Falkland Islands? Where do taxes from the Falkland Islanders go? To the UK?

 

Is it perhaps more likely that Sarkozy was making a point (badly) that wherever in the UK territories you are the tax laws should apply?

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  • 2 weeks later...

At a glance: G20 agreement

 

TAX HAVENS

 

* There will be sanctions against tax havens that do not transfer information on request

* The Organisation for Economic Co-operation and Development has published a list of countries assessed by the Global Forum against the international standard for exchange of tax information

 

 

http://news.bbc.co.uk/1/hi/business/7979682.stm

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