Author Topic: Facta coming to Jersey?  (Read 1983 times)

Offline Mark Forskitt

  • Sr. Member
  • ****
  • Posts: 483
    • A View from the West
Facta coming to Jersey?
« on: November 25, 2012, 03:37:21 PM »
http://www.guardian.co.uk/business/2012/nov/25/treasury-british-tax-havens-crackdown

It seems to me even the suspicion of forced declaration of 'names behind hidden companies, account holders and trusts' is likely to lead to a significant loss of business and hence of tax revenues.  We are already selling off bits of the family brass like the pref shares in JT to balance the budget.  The storm clouds are gathering and suddenly the rainy day fund just doesn't look that big at all.

Offline Calimachon

  • Hero Member
  • *****
  • Posts: 1503
  • Gender: Female
  • http://www.amnesty.org.uk/
Re: Facta coming to Jersey?
« Reply #1 on: November 25, 2012, 07:59:54 PM »
http://www.guardian.co.uk/business/2012/nov/25/treasury-british-tax-havens-crackdown

It seems to me even the suspicion of forced declaration of 'names behind hidden companies, account holders and trusts' is likely to lead to a significant loss of business and hence of tax revenues.  We are already selling off bits of the family brass like the pref shares in JT to balance the budget.  The storm clouds are gathering and suddenly the rainy day fund just doesn't look that big at all.

Oh Lordy!  Does that mean we will all be reduced to wearing clogs again!  Damn!

Cali ;)
TOMORROW (Noun) = A mystical land where 99% of all human productivity, motivation an achievement is stored

Offline Mark Forskitt

  • Sr. Member
  • ****
  • Posts: 483
    • A View from the West
Re: Facta coming to Jersey?
« Reply #2 on: November 27, 2012, 12:34:51 AM »
Seems the top brass have grasped this might be a tad damaging to our economy. http://www.thisisjersey.com/news/2012/11/26/finance-crisis-talks/
Isn't it amazing how quickly the system can spring into action when its self interests are threatened.   No 10 year delay as per Millenium Town Park, of even the year it has taken just to get a proposal to have a Ctte of Inquiry in to child abuse.

Offline boatyboy

  • Hero Member
  • *****
  • Posts: 3476
Re: Facta coming to Jersey?
« Reply #3 on: November 27, 2012, 03:30:09 AM »

Fair comment Mark, the rag report says that top civil servants will be travelling to London to discuss the issues.

So I suggest a big helping of self interest is at stake.

The ever expanding Jersey Financial commission who recently secured another extra £930,000 in funding ( even though they have £6.5 million in the bank to take banks to court says Minister Maclean ) must also be worrying about their future employment and empire building aspirations. As must be the Jersey Development Company with it Financial centre wet dream.

BB

Offline Fritz

  • Hero Member
  • *****
  • Posts: 2679
  • Gender: Male
Re: Facta coming to Jersey?
« Reply #4 on: November 27, 2012, 04:58:24 AM »
Fact is. When all the US ,UK and even EU legal heavies get their teeth into the tax-avoidance collaborators, Jersey will have to become a Southern English or Northern French Town surviving on its own merit.

What plans are in place to save our 120,000+ population?

Offline Dave Sanglotte

  • Full Member
  • ***
  • Posts: 199
Re: Facta coming to Jersey?
« Reply #5 on: November 27, 2012, 05:45:38 PM »
For the Francophones amongst you, "Jersey, un paradis fiscal au purgatoire" (even comes with a quiz to test your comprehesion ;)

http://www.rfi.fr/lffr/articles/115/article_3134.asp

And if you ever wondered why the French call it a 'paradis fiscal', it was because they mistook 'haven' for 'heaven'. Works just as well though.

Offline moot

  • Hero Member
  • *****
  • Posts: 1149
  • Gender: Male
Re: Facta coming to Jersey?
« Reply #6 on: November 30, 2012, 04:39:51 AM »
Each time there is a threat to Jersey's main industry ( and they are coming in fast and furious ) more people placing property on the market fearing it might collapse resulting in negative equity, whilst this very action could make this happen. And of course more luxury cars and boats for sale
If you want to rent you can now haggle ( unheard of in this island ) as owners who can't sell resort to letting. Panic station not far off now !
As Bob Dylan once said : "And the times are a changing".....