IOM's tax strategy brought years forward

As part of an ongoing strategy to boost the island's fund industry, the Isle of Man has brought forward the tax strategy by three years to give VAT relief for fund managers now. The main focus is on promotion of the Experienced Investor Fund structure (EIF), which, after a slow start, is now accelerating in its take-up. The government is keen to push this advantage and turn the reputation of the island away from a life company specialist into a more broadly diversified financial services centre. The EIF was launched in January 2000 but by June last year there were only 65 funds...