EU blacklists the Cayman Isles, UTD registered there

[Verminator]

As part of their clampdown on tax avoidance, the EU have blacklisted The Caymans (where our parent company is registered), along with Panama, Palau & The Seychelles.
While I doubt that the Glazers will struggle to relocate the business, I would expect it to have a negative impact on our finances.

Glad to see the net is closing on tax avoiders though. Why should the wealthy and rich corporations exempt themselves from their societal responsibilities?

 

[VorZakone]

This will not affect United's finances negatively.

 

[matt10000]

We are not members of the EU

 

[Wan]

Ok.

 

[pacifictheme]

We are not members of the EU?

Which is a tragedy.

 

[Verminator]

We are not members of the EU?

Anybody that seeks trade with the EU, must comply with EU financial regulations. Failure to do so will also see the UK blacklisted.

 

[RedTiger]

We are not members of the EU

Which is why our protection of these tax Havens won't be tolerated by the EU anymore.

 

[matt10000]

Anybody that seeks trade with the EU, must comply with EU financial regulations. Failure to do so will also see the UK blacklisted.

So if a uk company does not comply with EU financial regulations then the entire uk will be blacklisted from doing any trade anywhere in the EU?

 

[Green_Red]

Which is a tragedy.

Yet reality.

 

[Verminator]

So if a uk company does not comply with EU financial regulations then the entire uk will be blacklisted from doing any trade anywhere in the EU?

The country does, and will have to ensure companies operate within it's own regulations. To comply with EU regulations and deal with the EU, the country's regulations must align with the EU's (at minimum).
Probably why Johnson always wanted 'No Deal' on the table.
The likelihood is that we will be cut off from Europe. About as hard as you can get.

 

[Stepney73]

Which is a tragedy.

Thank you joe Swinson

 

[P-Ro]

The country does, and will have to ensure companies operate within it's own regulations. To comply with EU regulations and deal with the EU, the country's regulations must align with the EU's (at minimum).
Probably why Johnson always wanted 'No Deal' on the table.
The likelihood is that we will be cut off from Europe. About as hard as you can get.

What are you on about!? If a company complies with EU regulations then their service/product can be traded within the EU. The tax residence of the company will determine whether there are tariffs on those goods/services.

 

[Verminator]

What are you on about!? If a company complies with EU regulations then their service/product can be traded within the EU. The tax residence of the company will determine whether there are tariffs on those goods/services.

How can a company registered in a tax haven comply with EU regulations when the regulations are directly targeted at prohibiting tax havens?
There will not be tariffs. There will be exclusions.

 

[gulli_G]

As part of their clampdown on tax avoidance, the EU have blacklisted The Caymans (where our parent company is registered), along with Panama, Palau & The Seychelles.
While I doubt that the Glazers will struggle to relocate the business, I would expect it to have a negative impact on our finances.

Glad to see the net is closing on tax avoiders though. Why should the wealthy and rich corporations exempt themselves from their societal responsibilities?

So is that why Boris was in hurry to get brexit done.

 

[Tarrou]

If there is any issue they will just Redom it, I guess

Can’t see it causing many problems really. It’s not like we are there to avoid paying corp tax, is it?

 

[steeeb]

Surely the solution is to tax revenue (at a lower rate) instead of profit.

Then it solves all tax avoidance and massively simplifies tax.

If something is sold, you pay 12.5% tax on it (well some things are exempt and not taxed some things are taxed lower/higher). No matter where you're located, if your a corner shop or Amazon.

Simples. Boris out. Me in.

 

[Gopher Brown]

As part of their clampdown on tax avoidance, the EU have blacklisted The Caymans (where our parent company is registered), along with Panama, Palau & The Seychelles.
While I doubt that the Glazers will struggle to relocate the business, I would expect it to have a negative impact on our finances.

Glad to see the net is closing on tax avoiders though. Why should the wealthy and rich corporations exempt themselves from their societal responsibilities?

Our finances are a dodgy, shady area whilst in full compliance (for now at least) with the rules.

It's probably best that none of us think about the finances - in particularly the £1bn+ that the Glazers have syphoned off from the club. Ignorance is bliss.

 

[MrPooni]

As part of their clampdown on tax avoidance, the EU have blacklisted The Caymans (where our parent company is registered), along with Panama, Palau & The Seychelles.
While I doubt that the Glazers will struggle to relocate the business, I would expect it to have a negative impact on our finances.

Glad to see the net is closing on tax avoiders though. Why should the wealthy and rich corporations exempt themselves from their societal responsibilities?

For reference this is one of the driving reasons a large subsection of the Tory party pushed so hard to get Brexit done.

 

[Scholsey2004]

So if a uk company does not comply with EU financial regulations then the entire uk will be blacklisted from doing any trade anywhere in the EU?

More likely EU tariff walls to disadvantage UK firms, the object being to pressure HMgov to change legislation.

 

[Classical Mechanic]

Glad to see the net is closing on tax avoiders though. Why should the wealthy and rich corporations exempt themselves from their societal responsibilities?

Meanwhile in the EUtopia

https://www.theguardian.com/busines...reject-move-to-expose-companies-tax-avoidance

The UK, which had been one of the biggest supporters of tougher measures to tackle multinational tax avoidance, did not vote. The Treasury said this was because the UK is in purdah before the general election.

 

[Massive Spanner]

Weird, I just got a job offer there an hour ago and was sort of considering it. No tax and a six figure salary, what could go wrong?

 

[RoyH1]

Can someone explain to me why we can play in the English Premier League while not being registered in the UK?