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Rebrand, resolve?
Jun 18, 2008, 05:41 AM
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Daniel
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Jun 18, 2008, 05:41 AM
It turns out that the Treasury has been fussing about nothing.
Those inquiries into tax havens, the international efforts to crackdown on tax evasion, that Offshore Disclosure Facility: all a waste of time.
There's a much simpler solution to such naughty behaviour, according to William F. Baity.
For those of you unfamiliar with Mr Baity, he's the deputy director of the USA's Financial Crimes Enforcement Network, more commonly known as FinCen.
That means he's one of the most high-profile figures in charge of the anti-money laundering department of the world's most powerful government.
And he reckons that the key to putting an end to people's unscrupulous use of tax havens is... rebranding.
No, really.
Mr Batty, sorry, Baity has suggested that the Isle of Man reposition itself as an 'independent financial centre', rather than being known, as it is now, as an offshore tax centre.
'Perception is reality,' he is reported to have said.
Great! Once Lichtenstein, Sealand et al undergo the same miraculous transformation, all will be well.
Next up: the Alistair Darling and his colleagues to be replaced by a team of marketing executives.
After that, we'll no longer pay taxes.
We'll make happy-citizen donations.
To return to the level-headed Taxation.co.uk, click here.
Those inquiries into tax havens, the international efforts to crackdown on tax evasion, that Offshore Disclosure Facility: all a waste of time.
There's a much simpler solution to such naughty behaviour, according to William F. Baity.
For those of you unfamiliar with Mr Baity, he's the deputy director of the USA's Financial Crimes Enforcement Network, more commonly known as FinCen.
That means he's one of the most high-profile figures in charge of the anti-money laundering department of the world's most powerful government.
And he reckons that the key to putting an end to people's unscrupulous use of tax havens is... rebranding.
No, really.
Mr Batty, sorry, Baity has suggested that the Isle of Man reposition itself as an 'independent financial centre', rather than being known, as it is now, as an offshore tax centre.
'Perception is reality,' he is reported to have said.
Great! Once Lichtenstein, Sealand et al undergo the same miraculous transformation, all will be well.
Next up: the Alistair Darling and his colleagues to be replaced by a team of marketing executives.
After that, we'll no longer pay taxes.
We'll make happy-citizen donations.
To return to the level-headed Taxation.co.uk, click here.
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