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Isle of Man

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Isle of Man - Tue Jan 31, 2012, 02:58 PM
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0HighTimes0's Avatar
Since: Apr 2011
Posts: 840
I watched documentary last night on TV about Isle of Man (where owners of poker stars are based)
It looks like great place to live, and has good life style, good governance ( government!)
It boasts;
"The island's parliament, Tynwald, claims to be the oldest continuously existing ruling body in the world.[37] Tynwald is a bicameral or tricameral legislature, comprising the House of Keys (directly elected by universal suffrage) and the Legislative Council (consisting of indirectly elected and ex-officio members). These two bodies meet together in joint session as Tynwald."
http://en.wikipedia.org/wiki/Isle_of_Man

and the company's/corporate's don't have too pay Tax;
" The Isle of Man is a low-tax economy with no capital gains tax, wealth tax, stamp duty, or inheritance tax[47] and a top rate of income tax of 20%. A tax cap is in force; the maximum amount of tax payable by an individual is £115,000 or £230,000 for couples if they choose to have their incomes jointly assessed. The £115,000 tax cap equates to an assessable income of £589,550. Personal income is assessed and taxed on a total worldwide income basis rather than a remittance basis. This means that all income earned throughout the world is assessable for Manx tax rather than only income earned in or brought into the Island.

The rate of corporation tax is 0% for almost all types of income, the only exceptions are that the profits of banks are taxed at 10%, as is rental (or other) income from land and buildings situated on the Isle of Man.[48][49]

Offshore banking, manufacturing, and tourism form key sectors of the economy. Agriculture and fishing, once the mainstays of the economy, now make declining contributions to the Island's Gross Domestic Product (GDP)."
http://en.wikipedia.org/wiki/Isle_of_Man

so Isle of Man is a Tax Haven for company's etc! (Thats why USA player's got there money back, wonder if they would of if it was USA company? (FullTilt example) )
 
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Tue Jan 31, 2012, 03:44 PM
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flophitter's Avatar
Since: Apr 2011
Posts: 2,959
If you ever visit, just remember to say hello to the fairies as you cross a certain small bridge, otherwise you will be cursed!

I used to go with bike racing friends for the annual week of cycle races on closed roads that followed the more famous motorbike TT race week in June - great memories of the island
 
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Tue Jan 31, 2012, 04:33 PM
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XXChris123's Avatar
Since: Jul 2010
Posts: 1,512
BronzeStar
nice post
 
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Tue Jan 31, 2012, 05:08 PM
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CannonLee's Avatar
Since: Dec 2010
Posts: 3,418
Quote:
Originally Posted by flophitter View Post
If you ever visit, just remember to say hello to the fairies as you cross a certain small bridge, otherwise you will be cursed!

I used to go with bike racing friends for the annual week of cycle races on closed roads that followed the more famous motorbike TT race week in June - great memories of the island
How about the Pizza?



Quintuple Bracelet Winner

 
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Tue Jan 31, 2012, 06:38 PM
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PLaws62's Avatar
Since: Apr 2011
Posts: 329
was also home of a great old entertainer ,a lot of great memories laughing at good old Norman Wisdom
 
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Sat Feb 04, 2012, 04:05 AM
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Stakehorse75's Avatar
Since: Sep 2010
Posts: 865
BronzeStar
so Isle of Man is a Tax Haven for company's etc! (Thats why USA player's got there money back, wonder if they would of if it was USA company? (FullTilt example) )

Read more: PokerSchoolOnline Forum - Reply to Topic http://www.pokerschoolonline.com/com...#ixzz1lOyqHGD9

Actually Full Tilt is based in Alderney(in english channel between France and England), another tax haven, and the reason tilt was completely shut down was ffrom them not keeping players' $$ in different accounts than their assets.
 

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