Isle of Man"s zero rate corporate tax extended to space

Isle of Man"s zero rate corporate income tax policy has been extended to the space and satellite industry. The Isle of Man already has a zero tax regime for a number of industries - including shipping, insurance and fund management - and is moving to a standard zero rate for business in 2006. Allan Bell, treasury minister at the Isle of Man Government, said: "We intend to extend the existing zero rate to new opportunities as and when they arise. A small but exceedingly promising area is space and satellite technology. This will encompass the manufacture, operation, sale or other activiti...