A new E-commerce advisory service was launched this week which aims to promote the Isle of Man as a centre for E-commerce and internet related business. The service is called ‘eIOM’ and is a joint venture of four local companies: the law firm Cairns, Deloitte & Touche, Creative Online Media and Manx Telecom (a subsidiary of British Telecom). eIOM is the first step in helping the Isle of Man realize its potential as a centre for E-commerce excellence, and gain back some of the ground in this field already lost to early runners such as Bermuda. The Isle of Man Industry Minister, Mr David North, has welcomed the eIOM initiative and stated that the future of the Isle of Man economy is inextricably linked to E-commerce. Deloitte & Touche’s E-commerce expert Mr Nick Williamson said that "we consider that the Isle of Man is well positioned to offer itself as an attractive location for the setup of international E-commerce. The legislative framework already exists to provide significant direct tax advantage to multinational corporations in that their internet trading subsidiaries can be established and operated from here without a charge to local corporate income tax arising".
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