Woo hoo, we are a white tax haven! Maybe to mark this we should rename the Isle of Man the Isle of Wh.... oh hang on a minute.
Here's my uneducated take on things. We managed to avoid a OECD tax haven black list that ONLY has 4 countries on it, Costa Rica, Malaysia, the Phillipines and Uruguay. Notice that none of them seem to have any real connections with the major world players? I wonder what you have to do to get on that list?! hmm
Everybody else has been bunged into 2 lists, a white list and a grey list. The Isle of Man is in the whitelist so what does that mean for us? Actually bugger all, there is no reward for being white instead of grey. We do not get a Brucie Bonus. The only difference is that we have implemented some stuff for information sharing instead of "committing" too. We have been very busy running around kissing asses. So if you're a wealthy ex-pat looking for somewhere to LEGALLY put your money you have a choice between the Isle of Man (who will squuueeeaaalll your details at first asking) or a nice "grey" tax haven that is treated the same as the Isle of Man but won't be so obliged to share your details with every Tom, Dick and Harry that asks. Now where would you put your money?
I reckon this bit of free marketing is going to do wonders for Costa Rica, Malaysia, the Phillipines and Uruguay (cos there will always be a black market). The countries on the grey list will probably do OK out of it as well. The tax havens on the white list - not really much of an incentive to use them now is there?
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