Mediaboss Marketing

23 February 2012

The Isle of Man government has announced its 2012/13 Budget, containing several tax measures as part of a rapid consolidation plan aimed at eradicating the territory's debt in the near-term.

Under the Budget, the island's income tax regime in terms of rates and thresholds remains unchanged. The Personal Allowance Credit, an annual payment for those on low incomes, however has been reduced marginally, by GBP200, per eligible taxpayer.

In addition, the National Insurance Employees' primary threshold is to be increased by GBP3 per week, while the upper earnings limit will be increased by GBP20 per week.

The government has also announced a National Insurance Rebate scheme to encourage firms to increase employment. From April 6, 2012, an employer will be able to apply to the Assessor of Income Tax for exemption from having to pay the secondary National Insurance Contributions where certain conditions are met, namely: the employment must be for an employee that has not been connected to the entity in the last two years; employment must last at least twelve months and be for at least 30 hours a week; and staffing levels must exceed that in the previous year. Employers must also be up to date in terms of payment of the payment of Income Tax Instalment Payments and National Insurance Contributions. The scheme is to run for a period of two years.

In addition, following consultation in 2010, the use of Online Tax Services for employers is to be introduced on a transitional basis from April 6, 2012. Employers with more than 100 employees will be required to use the system from April 6, 2012. The first annual online return, for the year ending April 5, 2012, will be due by May 5, 2013. Employers with 10 or more employees will be included from April 6, 2013, and compulsory online filing will be made mandatory for all employers from April 6, 2014.

Tax relief on mortgage and loan interest is to be restricted to the lower tax rate of 10%. Tax relief on maintenance payments is to be abolished, and maintenance received will no longer be classed as taxable income.

The Budget also commits to comprehensive retrenchment across government departments. The government reported that it had already achieved savings worth GBP12m to add to the GBP51m in savings made since 2010-11. Government expenditure will be GBP35m lower than in last year's budget.

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Isle Of Man Announces 2012/13 Budget

23 February 2012

The Isle of Man government has welcomed the successful application of TWLV for a license to operate a new online bingo site from the island.

The company launched its 'TWLV' offering on January 2012, and it is now open to the public.

Commenting on the launch, Ab Olde-Scheper, Head of TWLV Gaming Ltd, said:

"TWLV offers players an exciting new bingo game with a completely new approach which is refreshingly transparent and has an exceptionally high return, as well as the largest chance of winning compared to any game of chance of its kind."

The company said its decision to select the Isle of Man was because ?the island offers large telecoms capacity, first-class data centres, skilled professionals, world-class regulation and a business friendly and supportive government.?

Alex Downie, the Department of Economic Development?s Political Member with responsibility for e-Gaming, added:

"I am pleased that TWLV Gaming has announced the launch of their novel new website. In addition this showcases the island?s success as a leading jurisdiction for gaming companies due to its excellent reputation in regulation and support. The Isle of Man offers an ideal environment for TWLV to develop its business."

TWLV's decision to form operations in the territory follows closely after the decision of industry leader Playtech which applied for a license in February.

According to the government, operators seeking to establish operations in the territory benefit from a benign and simple tax environment, which offers exemptions from Capital Gains Tax; low personal income tax rates of between 10 and 20% and low betting and gaming duty.

The territory is also UK 'White List' accriedted; is a Tier 1 regulated island; and has a history of stability and security. A number of grants are also available such as government funding of up to 40% towards relocation costs, marketing, hardware and software; and annual government funding of to 50% available for training.

The island also benefits from a highly-skilled workforce; world-class telecoms infrastructure including: two self-hearing rings serving the Isle of Man; 1.2 terra bits capacity 0.02% utilisation; and anti-DDOS attack technology.

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Isle Of Man Lures Another Gaming Company

GRAND CAYMAN, CAYMAN ISLANDS--(Marketwire -02/22/12)- Golden Frog, the premier global software developer, announces today the update of their VyprVPN App from Beta to version 1.0. The VyprVPN App update includes numerous improvements to the user interface and functionality.

In November 2011, Golden Frog launched the VyprVPN App in its Beta form. Golden Frog's VyprVPN is a personal Virtual Private Network (VPN) service that provides a secure, encrypted connection to the Internet. VyprVPN utilizes PPTP, L2TP/IPSec and OpenVPN protocols to protect online privacy. In addition to unlimited speeds, unlimited IP address availability, and no download caps, the VyprVPN App lets customers easily switch between VPN protocols and North American, European and Asian VyprVPN server locations with a single click.

"The feedback we've received from customers has helped us to polish up virtually every aspect of the VyprVPN App with better performance, better usability, more security, and increased reliability," explains Philip Molter, CTO at Golden Frog. "We've made numerous improvements to the user interface and the 'under the hood' functionality that it only made sense to remove 'Beta' from the name altogether."

VyprVPN App improvements:

Native support for more languages Multitude of look and feel improvements Improved PPTP and L2TP stability Improved OpenVPN speed and reliability

Read the VyprVPN App change log to learn about all the improvements found in this update.

If you are already a Golden Frog VyprVPN customer, please download the latest version of the VyprVPN App for free. If you are not already a customer, we invite you to learn about VyprVPN and signup today!

For more information about Golden Frog and VyprVPN, please visit http://www.goldenfrog.com or email marketing@goldenfrog.com

You can stay up-to-date on VyprVPN by subscribing to the Golden Frog blog or following VyprVPN on Twitter, Facebook, or Google +.

About Golden Frog
Golden Frog is a global software developer of Internet applications focused on reliability, performance, and security. We care about the open Internet and create superior software and services that help people access its full potential. Learn more about Golden Frog at https://www.goldenfrog.com.

Golden Frog, Dump Truck and VyprVPN are trademarks of Golden Frog, Inc. All other trademarks mentioned in this document are the property of their respective owners.

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Golden Frog Updates VyprVPN App to Version 1.0

Enterprise Holdings announced Feb. 15 that it is licensing its Alamo Rent A Car and National Car Rental brands to Eurocar Rentals Limited at the Owen Roberts International Airport in Grand Cayman, Cayman Islands. The airport operation is slated as a dual-branded car rental location at the popular Caribbean tourist destination for North American travelers.

“We are looking forward to working with Eurocar Rentals Limited in expanding the Alamo and National brands to Grand Cayman,” said Jerry Smith, vice president of franchise operations for Enterprise Holdings. “The National and Alamo brands will now be a part of a growing and thriving Cayman Islands community, and we will work to provide the superior service our customers have come to expect to new customers as well as our current loyal customers traveling out of the country.”
 
As a result of several initiatives underway to benefit the Cayman Islands tourism industry, the Owen Roberts International Airport is expanding to accommodate more aircraft and arrivals, including the Alamo and National location to provide visitors with an on-airport car rental option.

“Our close proximity to the United States means that many of the visitors to Grand Cayman are from North America and familiar with the Alamo and National brands.” said Matthew Bodden, spokesperson for Eurocar Rentals. “Through our partnership with Enterprise Holdings, we will be offering a wide selection of vehicles to thousands of travelers each year.”

The Alamo and National location offers daily, weekly and monthly rentals to meet customer demand, including economy, compact, and mid-size cars; convertibles and luxury sedans; and standard, soft top and large sport utility vehicles. The new location provides rental options to both domestic customers and international visitors coming to the island for business or leisure.

Currently, overnight visitors to Cayman Islands are at their highest levels since 2000. Trip Advisor recently voted the Cayman Islands as the No. 1 destination in the Caribbean, the No. 22 destination worldwide and No. 1 for best adventure tour and best beach resort. Additionally, domestic and foreign private developers are investing in the region to attract more visitors.

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Alamo and National Car Rental License Brands for Cayman Islands Operations

SANTA CRUZ - Local union and education leaders are putting their weight behind the so-called millionaires tax, a proposed ballot initiative that would restore funding for education and essential services. The initiative, which supporters say is the only progressive tax proposal, would ask Californians who earn in excess of $1 million per year to pay 3 percent more in annual taxes.

The millionaires tax was widely discussed Tuesday evening at a forum held by the Women's International League of Peace and Freedom. Local economic, union and education leaders talked about how initiatives proposed to fix that state's budget will affect Santa Cruz.

Nora Hochman, a union leader for administrative workers at UC Santa Cruz, spoke adamantly about the need for the tax.

"Whether it's short-term rescue or long-term restructuring, something needs to be done," Hochman said. "We have a slim window of opportunity."

Hochman distributed a number of fact sheets on the proposal, which supporters estimate won't cost the average or typical taxpayer any extra money each year, unlike some of the other proposals on the table.

Gov. Jerry Brown's own proposed budget initiative, for instance, which would benefit education, public safety, social services and corrections, would temporarily increase sales tax by half a cent and increase tax rates on those with an annual income of more than $250,000.

In some years, voters have had the opportunity to vote on state ballot initiatives in June as well as in November, last year the state's Legislature moved all June ballot measures to the November ballot, according to Fred Keeley, the county's treasurer.

While Keeley was nuanced in his analysis of the various initiatives, cautioning that fixing the budget crisis on state and local levels is also a matter of finding the right mix of taxes. He said that if he could only pick one of the proposals, he'd go for the millionaires tax.

Francisco Rodriguez, a vice president with the local chapter of the California Federation of Teachers, a leading supporter of the proposal, also spoke in support.

"Our initiative is the only progressive initiative that taxes only those who can truly afford it," he said.

Rodriguez said that California Federation of Teachers began polling its members about the budget proposals in 2009 and then expanded to all voters.

"We've found that across the board, voters support education," he said.

One concern when it comes to ballot initiatives, particularly when there are several in an election year, is that you run the risk of voter fatigue, leaders cautioned. When faced with too many initiatives, voters may get fed up and vote for all, or none. That's one of the reasons Gov. Brown has pushed to shoot down measures that compete with his own $7 billion tax proposal.

Keeley is among the leadership of California Forward, a group that has successfully pushed prior initiatives and is pursuing another that would change how California handles its budget.

Follow Sentinel reporter Jessica M. Pasko on Twitter @jmpasko96

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Community leaders talk state budget proposals, including the teacher-backed millionaires tax