Isle of Man…for free - papers 22 February

This potentially could make the 33 mile long island a great tax haven, the paper quotes tax experts, although it is only likely to be the first of many such announcement by similar offshore havens because of EU moves to crack down on cross-border tax evasion. “The aim is to attract more rich people to boost the island's growing wealth management industry and create new businesses in a diverse range of sectors from manufacturing to film.” From 5 April this year corporation tax will fall from 10% to a nil rate, while personal income tax will retain its 10% and higher 18% rates, although o...