28/07/2010
Conservative MP for the Cities of London and Westminster, Mark Field, has argued that small international finance centres (IFCs), such as the Isle of Man, have endured unwarranted ‘political attacks and misguided criticism from major governments.’ He is also concerned at the recent trend in attacking zero-ten tax regimes, and was quoted as saying that it undermined those territories tax sovereignty.
Mr Field concluded that many small IFCs were stable, well regulated and neutral jurisdictions, which helped cross-border business for the benefit of the global economy.
FATF has given the Isle of Man a positive assessment in meeting its 49 recommendations, including measures to avoid concealing financial crime and terrorist financing.
For further information about the Isle of Man or any of the services provided by Fedelta, please contact our New Business Executive, Stephen Colderwood.
spcolderwood@fedelta.com