R E L A T E D   C O N T E N T
ADVERTISEMENT

Isle of Man urged to rebrand

Alex Hawkes, Accountancy Age 18 Jun 2008

Tax havens look to sell themselves as financial centres rather than as 'offshore' jurisdictions.

ADVERTISEMENT

The Isle of Man has been urged to rebrand itself as an 'independent financial centre' rather than an offshore centre, as tax havens look to clean up their act.

William F. Baity, deputy director of US anti-money laundering agency FinCen, the Financial Crimes Enforcement Network, suggested the territory move away from the label ‘offshore’, which has negative connotations, to 'independent financial centre'.

'Perception is reality and you will struggle as long as people talk about offshore,' tax-news.com reported Baity as saying.

The rebranding suggestion echoes moves made by Gibraltar in recent years, which has pulled out of international groups with 'offshore' in their title to try and shake off the tax haven tag.

The moves are unlikely to entirely appease critics, however.

Baity, in delivering the Chief Minister's International Lecture at the Mount Murray Hotel, also said that the Isle of Man has been helpful in its work in providing information.

'What you are doing is helpful in our fight against financial crime and I think that is important.'

Further Reading:

Read the tax-news.com article

M A R K E T P L A C E
V-SOL: Supply Premium Vehicle Tracking Systems to MOD, TRansport for LONDON and EDF-CHANNEL RELEASE!
Expert Buyers is the UKs Leading No Savings No Fee IT Procurement Service. Claim your Free Audit Now
WAN based, automated, daily vulnerability assessments. Click here to try and request our whitepapers.
As recognised by the Accountancy Age Awards 2004, 2005 and 2006.
Online Time & Attendance Tracking 30 Day Free Trial ( $49 a year )
Have your product or service listed here >   
| Personnel 2000
Personnel 2000 are recruiting for a globally recognizable organization to find suitable candidates for the role of Senior Fund Accountant. Responsibilities include: • Preparing timely and accurate Net Asset Values, yields and distributions. • Reconcile ... more >
| WH Marks Sattin
Our client is a successful international property funds investor amp; disposals). Displaying outstanding communication skills, you will be expected to liaise extensively with professional advisors across legal, tax amp; finance departments. You will play a ... more >
| Twenty Recruitment Group
This top 10 firm of accountants and insolvency practitioners have taken on a number of new cases, which are continuing to grow. As a result they need an insolvency administrator with 1-2 years of experience ... more >
| WH Marks Sattin
Financial Analyst My client is a leading central London based Housing Association with the requirement for a qualified Financial Analyst. From either a commercial or Not-for-Profit background, you will be responsible for the following tasks ... more >
More Jobs in Finance

Job zone
Job of the week
Related jobs
Search for a job
 
Try our Advanced search