Mann: Government Pressed on Canadian Tax Allegations

NEWS FROM THE CELTIC LEAGUE

Following allegations about alleged tax evasion using the Isle of Man broadcast on Canadian TV network CBC last week and an article in a Canadian newspaper the Celtic League has written to Treasury Minister Eddie Teare MHK.

The League DOI asks if the Manx Government intend investigate the allegations and respond to them in an ‘honest, open and forthright manner’:

The text of the correspondence is set out below:

“Hon Eddie Teare, ACIB, MHK
Isle of Man Treasury Minister
Government Offices
Bucks Road
Douglas
Isle of Man
IM1 3PZ

14th September 2015

Dear Minister,

Ref: Canadian News Media allegations

I refer you to the attached links to several news reports by the Canadian Broadcasting Corporation and also a report in the Canadian newspaper the ‘TIMES COLONIST’. I attach links:

https://www.cbc.ca/news/business/kpmg-tax-sham-could-lead-to-criminal-investigation-experts-say-1.3223371

https://www.cbc.ca/news/business/federal-probe-of-kpmg-tax-sham-stalled-in-court-1.3210113

https://www.timescolonist.com/news/local/victoria-family-cited-in-cra-crackdown-on-tax-evasion-1.2055917

Both media sources make some fairly damning assertions about the alleged use of the Isle of Mans finance industry to circumvent Canadian tax obligations.

I note the only political response in the programme comes in the form of a some what bizarre and brief interview with the Speaker of the House of Keys (apparently at the ceremonial Tynwald at St Johns in July).

Can I ask if the Isle of Man government via the Treasury has responded to these allegations and is the Isle of Man government cooperating with Canadian authorities re same?

As you are aware Minister in recent years the Island has made great play of the transparency it now operates in respect of financial services and yet these reports seem to convey a different picture. What steps is the Isle of Man Treasury taking to rectify this?

Finally, if government has only become aware of these allegations since the programmes (and media reports) were broadcast last week will you be asking the Financial Services Commission (or if necessary the Financial Crime Unit) to look into the issue to establish that no Manx laws or regulations have been broken.

I am sure you will agree that coming so soon after the (unrelated) allegations about NAMA this is to say the least an unfortunate development and should be responded to in an honest, forthright and open manner.

Yours sincerely

Bernard Moffatt

Director of Information”

Related links on Celtic News;

https://www.celticleague.net/news/cbc-visits-the-iom-but-not-for-tynwald-day/

https://www.celticleague.net/news/are-we-stealing-other-countries-tax-receipts/

BERNARD MOFFATT

Issued by: The Celtic News

14/09/15

THE CELTIC LEAGUE INFORMATION SERVICE

The Celtic League established in 1961 has branches in the six Celtic Countries. It promotes cooperation between the countries and campaigns on a range of political, cultural and environmental matters. It highlights human rights abuse, military activity and socio-economic issues

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