Isle of Man Appoints International Tax Experts To Advisory Role

by Jason Gorringe, Tax-News.com, London

25 October 2004

The Isle of Man is to employ the services of three international taxation experts to advise on global tax issues and market access opportunities, Treasury Minister Allan Bell announced last week.

Presenting the government’s Economic Strategy to the Tynwald on Thursday, Mr Bell revealed that Richard Hay, a London-based lawyer with the firm Stikeman Elliott, who has previously advised the Isle of Man government on trust legislation, and Bob Harland, also London-based and recently retired as a tax partner with PricewaterhouseCooper, have been appointed to fill two of the posts.

Mr Bell also announced that two new bodies will be established to help the Isle of Man improve its international focus: a new International Tax and Policy Unit within the Treasury, and a new Market Access Group, including high level representation from the local business community.

Both groups will work closely together within the framework of the Economic Strategy and the Island’s Taxation Strategy, which includes the introduction by 2006 of a uniform system of business taxation based on a zero rate of income tax for qualifying companies.

Mr Bell commented: “Both Mr Hay and Mr Harland bring significant international commercial experience, extensive knowledge of the issues and opportunities facing offshore jurisdictions, together with well established knowledge of the Isle of Man itself.”

Bell added that the Isle of Man is working towards obtaining the services of the third member of the new tax panel, who is currently a senior government official with the taxation authority of an European Union member state.

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