LOWTAX.NET
CONTACT | ABOUT | LEGAL | LINKS     
   NETWORK SITES:
   LOWTAX   
   TAX-NEWS   

Jurisdiction Home Pages

Andorra
Anguilla
Aruba
Australia
Austria
Bahamas
Barbados
Belgium
Belize
Bermuda
Botswana
British Virgin Islands
Brunei
Canada
Cayman Islands
Cook Islands
Costa Rica
Cyprus
Denmark
Dubai
France
Germany
Gibraltar
Greece
Grenada
Guernsey
Hong Kong
Ireland
Isle of Man
Jersey
Labuan
Latvia
Liberia

Liechtenstein
Luxembourg
Madeira
Malaysia
Malta
Marshall Islands
Mauritius
Monaco
The Netherlands
The Netherlands Antilles
Nevis
New Zealand
Panama
Portugal
Russia
Seychelles
Singapore
South Africa
Spain
St. Kitts
St. Vincent and the Grenadines
Switzerland
Turks & Caicos Islands
USA
UK
Vanuatu

Newsletter

To receive monthly updates on new features in lowtax.net and tax-news.com just enter your e-mail address below:

Daily Tax Quote

The Network

3,000 free pages of accurate, timely information

Tax-News.com


Daily, updated news about tax and offshore from our team of 20 international journalists

Lowtax.net

'Low-tax' business and investment in the top 50 jurisdictions covered in exceptional detail

Investors offshore.com


Global information and advice for expatriates and international investors

Offshore-e-com.com

A topical guide to offshore e-commerce focused on tax and regulation

LawAndTax-News.com


Daily news and background data on tax and legal developments for international business

>
LOWTAX OFFSHORE

ISLE OF MAN: COUNTRY AND GOVERNMENT


<

BACK TO ISLE OF MAN INFORMATION: BUSINESS, TAXATION AND OFFSHORE

In this Section:


Isle of Man Geography

The Isle of Man is situated centrally in the Irish Sea and the British Isles. The Island spans 52 kilometres from north to south and 22 km from east to west at the widest point. The coastline, which covers 160 km in length encompasses an area of 572 sq. km. Even though the island is small, the scenery is varied. A range of hills stretch obliquely across the Island and in between lie well defined valleys. Sandy beaches meet the Island's flat northern plain which contrast markedly with the rocky cliffs and sheltered bays around the rest of the coastline. The fertile northern and southern plains are cultivated, comprising two thirds of the land mass.

The Island has a temperate climate due to the influence of the surrounding Irish Sea. Snowfall and frost are rare in winter. February is normally the coldest month, with an average daily temperature of 4.9 C and is often fairly dry but rather windy. April, May and June are the driest months whilst May, June and July are the sunniest. The average daily maximum temperature in the summer months is around 17.6 C and thunderstorms are rare.

BACK TO TOP


Isle of Man Population, Language and Culture

Population density is only 125 people per square km. The major settlements are Douglas (population 23,487) in the east and neighbouring Onchan (8,656) and Ramsey (6,874) in the north. The 1996 Census recorded a resident population of 71,714 representing an increase of almost 3% since 1991. This increase occurred mainly within the working age range through the immigration of economically active people, which reflected the expansion in the Manx economy over the previous 5 years. In 2007 the population figure was estimated at 75,831.

English is the official language and a Manx dialect is also spoken. The Manx Iron Age lasted from around 500 BC to 500 AD and the Celtic traditions established during this period are fundamental to the culture today. Manx Gaelic was the everyday language of the people until the nineteenth century and is currently enjoying a revival. Sea trade developed and flourished due to the Island's strategic location in the heart of the Irish sea. Cultural influences from Scandinavia in the north, Europe in the south, Britain and Ireland have all touched the Island. Christianity was introduced as early as the sixth century and became integrally linked to the lives of the Manx people.

In 1265 at the end of the Norsk Kingdom the Island became a pawn in a game of war between Scotland and England. Sovereignty finally passed to the English Crown at the beginning of the fifteenth century. In the eighteenth century the Island's offshore independence made it a major centre for the smuggling trade, causing a considerable loss of revenue to the English Treasury. The British Government intervened and in 1765 the entire Island was purchased for GBP70,000. A period of direct rule from Westminster followed and it was not until the mid-1800s that the Island regained a measure of control over its internal finances. Since that time political power has gradually diverted from London to the Island and a colonial-style administration has given way to a modern democratic government.

The people of the Isle of Man have a great respect for their rich cultural heritage which is a testimony to their ability to adapt and exploit the changing circumstances of history.

BACK TO TOP


Isle of Man Relationship with the EU

The Isle of Man is not a member of the EU. Protocol No 3 of the UK's Treaty of Accession to the UK excludes the island from most of the effects of the Treaty, other than those concerning trade in goods.

There is free movement of industrial and agricultural goods between the island and the UK; and between the island and EU and EEA countries. The island applies the external common customs tariff of the EU.

The Isle of Man chose to become part of the EU's VAT regime, but is not part of the EU fiscal area in any other respects. The island's VAT scheme is largely similar to that of the UK. For some types of business activity inside the EU it is an advantage to be within the scope of VAT.

The Isle of Man's constitutional position in relation to the EU cannot be changed without unanimous agreement of the member states, including of course the UK. The island sees its current relationship with the EU as beneficial, and does not seek to change it.

BACK TO TOP

Isle of Man Government

The Isle of Man is a self-governing British Crown dependency. The Queen of England, as Lord of Mann, is Head of State, and she is represented on the Island by the Lieutenant Governor, who is appointed by the Crown for a five year term. The Government of the United Kingdom is responsible for the conduct of the external relations and defence of the Island.

The Island's ancient parliament, Tynwald, is the oldest legislature in the world in continuous existence, dating back to Viking origins over one thousand years ago. Its Parliament has two branches: the House of Keys and the Legislative Council. The majority of Members sit as independents, and the virtual absence of party politics encourages a high degree of consensus. This has contributed to the remarkable stability of the Manx system.

The island has its own courts, but the body of the law is based on English common and civil law. English precedents are often followed. Some UK legislation is adopted as such by the Isle of Man by agreement with the British Government. The ultimate court of appeal is the English Privy Council. Advocates at the Manx bar have the fused rights of solicitors and barristers.

BACK TO TOP

<

BACK TO ISLE OF MAN INFORMATION: BUSINESS, TAXATION AND OFFSHORE

THE LOWTAX LIBRARY

One of the web's largest and most authoritative business and investment information sources. Alongside topical, daily news on worldwide tax developments, you can receive weekly newswires or access up-to-date intelligence reports on a range of legal, tax and investment subjects.

FREE TRIAL NEWS SUBSCRIPTION

Our 16 constantly updated intelligence reports cover every important aspect of 'offshore' and international tax-planning in depth, including banking secrecy, the EU's savings tax directive, offshore funds, e-commerce, offshore gaming and transfer pricing. Reports are available for immediate downloading or as subscription services with news pages.

Advertising & Marketing

With over 50,000 qualified readers every month our web-sites offer a number of cost effective, targeted advertising, sponsorship and marketing opportunities:

Display advertising - from 'skyscrapers' to 'buttons'
Content/article submission and sponsorship
Opt-in email marketing
On-line Services Directory listings

Click here to learn more or contact Peter Wiggins on +44 1424 425933 or email him at peter@lowtax.net

News & Content Solutions

Could your corporate web-site or newsletter benefit from incorporating regularly updated news and content tailored to serve your clients' interests? We can provide a variety of maintenance-free news and content solutions that can be seamlessly integrated and dynamically delivered:

Customised, personalised 'own-brand' news services
Newsletter content and management
News Headlines Tickers

Click here to learn more or contact Peter Wiggins on +44 1424 425933 or email him at peter@lowtax.net

IMPORTANT NOTICE: LOWTAX.NET has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright LOWTAX.NET 1999 to 2007. Contact us for further information.