A corporate tax cap of at least £5m is to be introduced in the Isle of Man following a consultation ...
A corporate tax cap of at least £5m is to be introduced in the Isle of Man following a consultation by the Isle of Man government. The cap has been welcomed by the island's banking industry, which believes such an amount will keep it more competitive than other offshore jurisdictions. John Sheath, managing director of Bradford & Bingley International, said: "This will put the Isle of Man ahead of other jurisdictions such as the Channel Islands, which does not have a cap on corporate tax and it will act as an incentive for companies to come to the island. This will help the economy grow ...
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