The Isle of Man must act now if it is to prevent being blacklisted as a 'tax haven' by new laws to be passed by President Obama's administration.
US attorney and political lobbyist Joseph Brand visited the island last week to talk with chief minister Tony Brown about Washington's legislative moves, according to a local newspaper. Brand believes a bill will be brought before Congress within the next few weeks and anticipates the new laws coming into force by August. The Isle of Man government ought to lobby members of Congress to persuade them the island is well regulated and therefore it should not be listed in the proposed legislation, says Brand. Three bills are being proposed in the States including the Isle of Man within a ...
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