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IoM E-Gaming Sector Recognised 5/15/2012 E-Gaming companies resident in the Isle of Man scooped multiple awards
at the eGaming Review Business to Business Awards, having been nominated for eighteen accolades.
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Cayman Regulatory Framework Endorsed 5/15/2012 Cayman Finance has welcomed the results of an independent study which places the
Cayman Islands among only two offshore territories which have consistently implemented internationally-accepted
standards on identity verification during due diligence processes.
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IoM Concludes 30th Tax Sharing Pact, With Qatar 5/10/2012 The Isle of Man government has announced the signing of a comprehensive double
tax agreement with Qatar, only the fifth agreement of its type to be negotiated
by the Isle of Man, but the 30th agreement to include tax information exchange
provisions.
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IoM Will Not Follow UK's Lead On Taxing Business Jets 5/7/2012 The Isle of Man's Treasury Minister, Eddie Teare has confirmed that, despite the
territory maintaining many similar elements to the United Kingdom tax regime,
the island will not follow suit with the UK government's decision to begin taxing
small business aircraft under the Air Passenger Duty regime.
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IoM Welcomes CBI Endorsement 5/4/2012 The Isle of Man's Treasury Minister, Eddie Teare has welcomed further recognition
of the role being played by competitive tax jurisdictions in supporting economic
growth, in particular in the United Kingdom.
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IoM Contributes To UK Tax Transparency Program 5/1/2012 The Isle of Man government has recently participated in an initiative funded
by the UK's Foreign and Commonwealth Office to provide training to the British Overseas
Territories of Montserrat and Anguilla to help them meet their
international obligations on tax information exchange.
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IoM Discusses Clean Tech Prospects 4/30/2012 As part of its efforts to develop the Isle of Man into a hub for clean technology
innovation, the Isle of Man government recently hosted round table discussions
to consider the significant opportunities for offshore renewable energy and associated
projects within the island's 4,000 sq km territorial waters in the Irish Sea.
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Captive Insurers Increasingly Staying Onshore 4/20/2012 Corporates are more likely to form new captive insurance entities in onshore
territories, such as in the United States and the European Union, and to opt for alternative captive structures, according to the findings of a new
report.
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EU Tax Issue With Guernsey's Tax Regime 4/23/2012 Guernsey's zero-ten corporate tax regime has been confirmed as 'harmful' by the
European Union's Code of Conduct Group on Business Taxation. The Code Group had previously ruled similarly in relation to the zero-10
regimes of both Jersey and the Isle of Man.
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IoM 50C Pension Scheme Falls Foul Of New QROPS Rules 4/16/2012 The Isle of Man government has responded to the recent update to UK rules regarding
Qualifying Recognised Overseas Pension Scheme, which now excludes transfers to
structures under Section 50C of the Income Tax Act 1970, known as 50C pension
schemes.
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Offshore QROPS Domiciles Stunned At HMRC's Last-Minute Change 4/12/2012 The UK tax authority, HM Revenue and Customs
has indicated that tax
relief available on pension transfers, under so-called Qualifying Recognised
Overseas Pension Scheme structures, will no longer be available unless the Scheme
is offered within the territory in which the expatriate is newly resident, putting
a multi-million offshore industry at jeopardy.
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Manx Legislators Lag Behind QROPS Change 4/10/2012 Isle of Man pensions provider, Boal & Co has confirmed that it has been forced
to cease offering its Trinity QROPS offering until Isle of Man legislation is
brought up to speed with changes to UK pension rules.
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IoM To Simplify Company Residency Regime 4/5/2012 The Isle of Man government has launched a consultation on a proposed legislative
change that would simplify the income tax position for companies with dual residence.
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IoM Reminds Companies Of Tax Return Deadline 4/3/2012 The Isle of Man government has warned companies of the late return penalties
they face if they fail to meet the imminent corporate tax return deadline.
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IoM Outlines New Online Filing Requirements 4/2/2012 The Isle of Man government has released a new Practice Note, detailing the requirements
being placed on employers following the decision to make mandatory the online
filing of tax returns, on a transitional basis, from April 6, 2012.
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Isle Of Man Targets 'Rogue Businesses' 3/23/2012 The Isle of Man government has emphasized the importance of verifying the legitimacy
of businesses which advertise offerings from the Isle of Man, after an exercise
by the government found 400 businesses operating without meeting the legislative
requirement to register with the Companies Registry.
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Isle Of Man To Engage Taxpayers On 'Critical' Issues 3/21/2012 The Isle of Man government will hold public meetings to engage with taxpayers on matters
of 'national importance', including tax and budgetary policy, starting this month, it has been announced.
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Guernsey Is Europe's Captive Domicile Of Choice 3/22/2012 Newly-published research from Business Insurance magazine shows that Guernsey
has extended its position as the largest captive insurance domicile in Europe
and remains number four globally.
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IoM Plans Clean Tech Promotional Tour 3/16/2012 The Isle of Man's Department of Economic Development has announced that it
will be heading a trade delegation of Isle of Man 'Clean Tech' companies to the
UK, Europe and the USA, in the latter part of this year.
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IoM Consults On Fund Laws 3/12/2012 The Isle of Man government has launched a consultation on draft legislation to update the regulation of 'Recognized' Collective Investment Schemes.
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IoM Employment Tax Holiday Begins From April 3/7/2012 The Isle of Man's Economic Development Minister John Shimmin has highlighted the recent tax relief measure introduced to stimulate economic and employment growth on the island which will provide National Insurance Contribution exemptions for new hires.
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IoM Seeks To Tap Maritime Opportunities In Singapore 3/5/2012 The Isle of Man's Department of Economic Development has announced
that it will launch a new representative office in Singapore to promote stronger
commercial relations with the nation and the region, especially in the area of shipping.
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IoM Intends No Tax On Capital Gains 3/1/2012 The Isle of Man has no intention of introducing taxes on capital gains, the island's
Treasury Minister, Eddie Teare has confirmed, clarifying the situation following
the removal of the island's deemed distribution regime.
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IoM Minister Optimistic Despite Challenges 2/29/2012 John Shimmin, the Isle of Man's Minister for the Department of Economic Development, is optimistic about many of the challenges facing the Isle of Man outlined in the Treasury Minister’s budget announcements.
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IoM Mulls FATCA Implications 2/28/2012 The Isle of Man government has announced that it may work with a number of other countries in order to help reduce the compliance burden of the United States Foreign Account Tax Compliance Act on the jurisdiction's financial services industry.
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Isle Of Man Lures Another Gaming Company 2/23/2012 The Isle of Man government has welcomed the successful application of TWLV for
a license to operate a new online bingo site from the island.
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Isle Of Man Highlights Vehicle Tax Portal 2/21/2012 The Isle of Man's Department of Infrastructure has reminded taxpayers of the online
portal set up in November 2011 to ease the process of annual vehicle duty payment.
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Isle Of Man Banking Deposits Fall 6.4% In 2011 2/20/2012 The Isle of Man government has published a report on the territory's banking sector
and its performance during 2011.
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Pokerstars Receives Malta License 2/17/2012 PokerStars has launched Pokerstars.eu under the group’s new license granted by the Malta Lotteries and Gaming Commission, which the company says will provide players with all the benefits of a European Union-issued license.
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IoM Consults On Ombudsman Scheme Changes 2/14/2012 The Isle of Man's Office of Fair Trading is proposing to increase the maximum
award limit under the Isle of Man Financial Services Ombudsman Scheme from GBP100,000
to GBP150,000.
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IoM Clean Tech Event Heralded A Success 2/14/2012 The Isle of Man's Department of Economic Development has welcomed the coverage
received from a recent clean-tech business breakfast where the island's offerings
were represented to an audience of over 140 clean-tech sector investors, professional
advisers and businesses.
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IoM Plans 'Leaner' Government Over Tax Hikes 2/7/2012 The Isle of Man's Treasury Minister Eddie Teare has said that the forthcoming
budget will see the most dramatic changes to the Manx government since the introduction
of the Ministerial system over 30 years ago, as part of a retrenchment package
to make government finances sustainable.
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Jersey, IoM To Outlaw 'Vulture Funds' 2/6/2012 The Isle of Man and Jersey have announced that they are to draft legislation designed
to stop creditors, including so-called 'vulture' funds, from using the territories'
judicial systems to undertake 'inequitable' transactions whereby the debts of heavily
indebted poor countries are bought for a fraction of their price only to for them
to be pursued for full value plus interest.
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IoM Updates 'Fit And Proper' Framework 2/3/2012 The Isle of Man Financial Supervision Commission on Januay 27, 2012, published a revised version
of its Training and Competence Framework.
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Manx Budget 'Will Not Undermine Economic Potential' 2/1/2012 Discussing the state of the Isle of Man economy, Chief Minister Allan Bell
said that the local business community would need to work with the government
as it attempts to consolidate the nation's financial position in its upcoming budget in order to exit strongly
from the global recession.
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Manx Contribution To UK Economy Highlighted 1/31/2012 The role played by the Isle of Man in supporting the creation of jobs and growth
in the United Kingdom economy has been praised by the Lord Mayor of the City of
London, David Wootton, during his first visit to the island.
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IOM To Cut Compliance Burden On Self-Employed 1/26/2012 The Isle of Man Treasury has launched a consultation which proposes improvements to the collection of National Insurance contributions, to bring the Income Tax and National Insurance systems into alignment where possible.
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Guernsey Remains Leader In Non-UK Listings 1/27/2012 Guernsey remains home to more non-UK entities listed on the London Stock Exchange than any other jurisdiction globally, according to figures from the market
authority.
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Isle Of Man Facing Fiscal Challenges 1/26/2012 The Isle of Man Chief Minister Allan Bell has issued the strongest warning yet
that the island must face up to some difficult changes if it is to overcome the
current economic challenges.
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Isle Of Man Beckons Last Bids For 5* Casino Complex 1/23/2012 The Isle of Man's Department of Economic Development has said it continues to seek expressions of interest from entities interested in investing in the establishment
of the island's first five-star hotel and casino complex.
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Miliband Comments 'Lack Credibility', Say Guernsey, IoM 1/20/2012 Guernsey and the Isle of Man have joined Jersey in denouncing as erroneous the comments
of the leader of the opposition Labour Party in the UK, Ed Miliband, in which
he called for the European Union to take action against territories such as the
Crown Dependencies on tax transparency concerns.
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Jersey Hits Back At Labour's Tax Haven Slur 1/19/2012 Jersey has responded to comments made by Ed Milliband, the leader
of the opposition Labour Party party in the United Kingdom, urging that action should be taken by the European Union against British Crown Dependencies,
including Jersey.
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IoM Showcased In Korea 1/17/2012 The Isle of Man is to receive welcome international promotion as a result of a
documentary being made by leading Korean broadcaster Korean Broadcasting System
(KBS) with a focus on the island's economy and investment opportunities.
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Double-Digit Growth For Manx Shipping Registry 1/12/2012 The Isle of Man Ship Registry has reported that Gross Registered Tonnage increased
by 12% over 2011, evidence that
vessel registration in the Isle of Man continues to be in high demand.
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Report Criticizes UK Gambling Tax Proposals 1/10/2012 UK government proposals to tax gambling operators on a point-of-consumption basis to boost revenues and enhance UK oversight of gambling operators could be self-defeating, according to a new report compiled by Deloitte on behalf of UK bookmarker William Hill.
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AIM-Listed Firms Prefer IoM 1/5/2012 Research commissioned by the Isle of Man government shows that the Isle
of Man continues to dominate the market as a domicile of choice for companies listed on London's Alternative Investment Market.
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Guernsey To Levy Immigrant Fees 1/4/2012 Fees are to be introduced by Guernsey for citizens from non-EU countries wishing
to stay permanently or on a temporary basis from February 2012, in line with fees
in place in other territories such as the UK.
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IoM Amends AML/CTF Handbook 12/30/2011 The Isle of Man's Financial Supervision Commission has announced amendments to
the territory's Anti-Money Laundering and Countering the Financing of Terrorism handbook.
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Guernsey Looks Set To Retain Zero-Ten Corporate Regime 12/29/2011 The European Union's Economic and Financial Affairs Council's endorsement of the
comparable tax regimes of the Isle of Man and Jersey is providing greater certainty
over Guernsey's future tax regime.
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Manx Tax Agreements Enter Into Force 12/29/2011 The Isle of Man government has noted the entry into force of two bilateral tax agreements,
signed with Canada and France.
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IoM Proposes Law Change To Host Gambling Events 12/27/2011 The Isle of Man has announced plans to amend the island's gambling legislation to permit venues other than casinos to host live gambling events from the island, such as live poker tournaments.
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Isle Of Man's Tax Regime Vindicated 12/23/2011 The Isle of Man government has welcomed final confirmation that the scheduled
withdrawal of the island's attribution regime for individuals will bring the
territory's zero-ten corporate tax regime into compliance with the European
Union's Code of Conduct for Business Taxation.
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IoM Revises Insurance Regulations 12/21/2011 The IoM's Insurance and Pensions Authority has issued the Insurance (Solvency) (Amendment)
Regulations, which were laid before the island's legislative assembly on December
13, 2011.
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IoM Hosts Chinese Entrepreneurs 12/19/2011 The Isle of Man government on December 3, 2011, played host to a select number
of high net-worth Chinese entrepreneurs as part of the territory's efforts to
promote itself as a leading international financial centre.
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IoM Welcomes New Gambling Operator 12/15/2011 The Isle of Man's Department for Economic Development has welcomed the launch
of TradaCasino's online operations from the territory.
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Isle Of Man Ditches Rent-A-Room Tax Relief Proposals 12/12/2011 The Isle of Man Treasury has announced that it will not pursue tax relief
proposed for room rentals following responses received in response to a consultation
launched in September 2011.
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IoM Targets Unregistered Businesses 12/9/2011 The Isle of Man's Department for Economic Development has urged business owners
that have yet to register their company to do so on the Department's Companies
Registry, as required under law in the Isle of Man.
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Guernsey To Retain Zero-Ten 12/2/2011 Guernsey's Chief Minister has said that
the island will retain a zero headline corporate tax rate following the European Union's
review of its tax regime, scheduled for next year.
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IoM Showcases Clean Tech Sector Progress 11/30/2011 The Isle of Man government has announced that it is in negotiations towards establishing a partnership with Japanese-British organization UBrainTV, to further promote the island as a centre of excellence for Clean Tech product development.
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IoM Redoubles Promotional Efforts 11/29/2011 The Isle of Man's Chief Minister Allan Bell has concluded another week of packed
engagements to actively promote the island to international investors, and to highlight the
efforts being made by the government to develop and further diversify the economy.
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IoM Touts Its Competitive Advantage To London Funds Industry 11/24/2011 The Isle of Man's Chief Minister, Allan Bell has underlined the strength and diversity
of the Isle of Man's economy in a keynote address to forum attendees in the City
of London.
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IoM Public Sector Pension Overhaul Praised 11/22/2011 The new Chairman of the Isle of Man's Civil Service Commission, Alfred Cannan,
has thrown his weight behind proposals from the Manx government to reform public
sector pensions.
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Isle of Man Set To Introduce Foundations 11/18/2011 The Isle of Man's Treasury Minister Eddie Teare has welcomed the announcement of
Royal Assent to new legislation
that would permit the establishment of foundations in the territory, enhancing
its position as a centre for international wealth management.
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Isle Of Man Finances 'Remain Strong' 11/14/2011 The Isle of Man government has clarified that the recent downgrade by Standard
and Poor's credit rating agency, from AAA, to AA+, is not as a result of a deterioration
in the country's finances, which 'remain strong', but as a result of a change
in the agency's rating methodology.
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Poland-IoM Tax Agreements To Enter Into Force 11/14/2011 The Isle of Man government has noted that both the island and Poland have completed
their respective ratification procedures for the entry into force of three bilateral tax agreements.
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IOM Promotes Island's Captive Insurance Capabilities 11/8/2011 The Isle of Man Captive Association recently attended the Federation of European
Risk Management Association Conference in Stockholm as part of ongoing
efforts to promote the island as the captive insurance domicile of choice.
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IoM Commended by FSB 11/7/2011 The Isle of Man's Chief Minister Allan Bell has welcomed the territory's inclusion
amongst countries seen as strongly adhering to international standards of cooperation
and information exchange in a recent assessment conducted by the Financial Stability
Board.
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Guernsey Tax Regime Set For EU Review 11/2/2011 The European Union Code of Conduct Group on Business Taxation has resumed its review of Guernsey's corporate tax regime in order to ascertain whether it contains any 'harmful' elements.
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IoM Space Sector Breaks Into New Territory 10/26/2011 The Isle of Man government has announced a major milestone in the development
of the island's aerospace sector with the successful launch of ViaSat-1, the first
satellite to use an Isle of Man licensed orbital filing.
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IoM Forges Stronger Commercial Ties With UAE 10/24/2011 Important business relationships were enhanced on a recent visit to Dubai and
Abu Dhabi by the Isle of Man's Department of Economic Development.
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Crown Dependencies Discuss Regulation 10/18/2011 The boards of the financial services regulators in Guernsey,
the Isle of Man and Jersey have met to discuss common issues affecting the islands
and to share their regulatory knowledge and experience.
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India Rapidly Expanding Tax Agreement Network 10/17/2011 India is playing a major role in the global crusade against black money and has completed negotiations for 16 new tax information exchange agreements, according to the chairman of the Central Board of Direct Taxes M C Joshi.
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IoM Aerospace Sector Receives Boost 10/11/2011 The International Institute of Space Commerce, based in Douglas,
the Isle of Man, has been accepted as a member of the International Astronautical
Federation, the most prestigious institution in the space community.
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Isle Of Man Cutting Barriers To Telecoms Market Entry 10/7/2011 The Isle of Man Communications Commission has published a response to its consultation
on the review of competition in the island's telecommunications sector, which offers a number of remedies to highlighted competition problems in the Isle of Man.
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IoM To Showcase Clean-Tech Sector 10/4/2011 The Isle of Man government has said that an upcoming conference and awards ceremony will showcase the Isle
of Man as a centre of excellence for research and development, innovation and financial services for Japanese clean-tech sector firms looking to expand globally.
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Guernsey Tops Europe In Specialist Finance Centre Index 10/4/2011 Guernsey has been rated highly in the latest index of specialist finance centres,
as published by trade title The Banker, securing second position globally and the top spot in Europe.
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Isle Of Man Eyes Second Casino Complex 9/29/2011 The Isle of Man Department of Economic Development is seeking expressions of interest
from the private sector on partnering with the government to establish a five-star
hotel and casino complex on the island, to attract visitors and boost tax revenues.
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Guernsey Delays Corporate Tax Decision 9/30/2011 Guernsey Chief Minister, Lyndon Trott, has clarified the government's position
on the island's corporate tax regime in an address to the States of Deliberation.
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Jersey Rated As Top IOFC 9/29/2011 Jersey has retained its position as the highest rated offshore international finance
centre in the latest Global Financial Centres Index published on September
26, 2011.
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IoM Promotes Commonwealth Economic Cooperation 9/22/2011 The Isle of Man's Department of Economic Development has welcomed the success
of the 'Doing Business in the Commonwealth' forum, an initiative to promote economic
partnership between Commonwealth nations.
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Guernsey Corporate Tax Changes Unlikely 9/21/2011 Guernsey Chief Minister Lyndon Trott has welcomed the outcome of the EU Code of Conduct Group's review of the business tax regimes in Jersey and the Isle of Man, noting that this should provide greater certainty for businesses over the future of Guernsey's 'zero-ten' tax regime.
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IOM Welcomes Zero-Ten Outcome 9/19/2011 The Isle of Man's Treasury Minister Anne Craine has welcomed feedback from the
EU Code of Conduct Group on business taxation that it has agreed in principle that the Isle of Man’s
business tax system will no longer be considered harmful if it goes ahead with
its proposed withdrawal of the attribution regime for individuals.
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IOM Consults On Room Rental Tax Incentives 9/16/2011 The Isle of Man government is proposing to introduce tax advantages for taxpayers
who rent out a room within their home, similar to schemes already in place in
the United Kingdom and Ireland.
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Abacus Launches Bespoke IoM QROPS Scheme 9/14/2011 Leading fiduciary services provider, Abacus Trust Company Limited, has announced the launch of their new Isle of Man Qualifying Recognised Overseas Pension Scheme product, which offers certain tax advantages to UK expats or British residents considering leaving the UK.
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IoM Introduces Incorporated Cell Company Form 9/15/2011 Financial services providers and prospective captive insurers in the Isle of Man
will benefit from new incorporated cell companies legislation being introduced
by the Isle of Man government.
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Jersey's Zero-Ten Regime Vindicated 9/15/2011 Jersey has received word from the European Union Code of Conduct Group on
Business Taxation that the territory's corporate tax regime will meet international standards after the proposed abolition of the island's 'harmful' deemed distribution provisions.
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IoM Loan Scheme To Facilitate Clean Tech Industry 9/13/2011 The Isle of Man Department of Economic Development has announced the launch
of a 0%-interest green business loan scheme, to aid growth in the cleantech industry and meet the island's commitment to reduce its carbon footprint.
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IoM Highlights Importance Of International Cooperation 9/9/2011 The Isle of Man's Chief Minister Tony Brown has highlighted the importance of
international cooperation in securing the future wellbeing and prosperity of small
nations around the world.
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IoM Economic Report Highlights Clean Tech Potential 9/6/2011 The Isle of Man’s thriving clean tech sector looks set for further expansion,
according to projections outlined in the latest Quarterly Economic Report to
the Isle of Man Council of Ministers.
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Isle Of Man Rethinks Financial Services Promotion 9/6/2011 The Isle of Man's Department of Economic Development has announced plans for a radical rethink of the way the island markets its offerings as an international financial centre, adopting a more collaborative approach between the government and the private sector.
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IoM Charity Reporting Requirements Change 8/26/2011 The government of Isle of Man has reminded Manx-registered charities of new
income thresholds, in place since August 1, 2011, that may require them to have
their accounts independently examined or audited.
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IoM Releases Guidance On CTF Code 2011 8/25/2011 The Isle of Man Insurance and Pensions Authority has produced guidance on
the Prevention of Terrorist Financing Code 2011, published by the Isle of Man
government, to assist regulated entities in the understanding of its requirements.
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IoM TIEAs With Japan, China To Enter Into Force 8/4/2011 The Isle of Man government has announced that its Tax Information Exchange
Agreements with China and Japan will enter into force on August 14, 2011, and
September 1, 2011, respectively.
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Isle Of Man Publishes Guidance For Directors 8/3/2011 The Isle of Man Financial Supervision Commission has published guidance on the responsibilities
and duties of directors under the laws of the Isle of Man, relevant to all directors
of Isle of Man-incorporated businesses.
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IoM Firms Alerted To Anti-Terror Law 8/1/2011 The Insurance and Pensions Authority of the Isle of Man has alerted licenceholders
to the recently-approved Prevention of Terrorism Financing Code 2011, which
was adopted by the island's legislative assembly, the Tynwald in July 2011,
and comes into force on September 1, 2011.
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Irish Income Levy Covered In IoM Tax Agreement 7/26/2011 Following an exchange of letters, the governments of the Isle of Man and Ireland have agreed on the interaction between the Irish income levy and the tax co-operation agreements in force between the Isle of Man and Ireland.
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IoM Warns Of External Legal Developments 7/27/2011 The Isle of Man Financial Supervision Commission has warned of external legislation
that may affect licenceholders in the Isle of Man, including the UK Bribery
Act 2010, which came into effect on July 1, 2011, and the US Foreign Account
Tax Compliance Act, which is due to be phased in from 2013.
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IOM Signs TIEA With Czech Republic 7/25/2011 The Isle of Man has announced the signing of a Tax Information Exchange Agreement and a joint declaration on future tax cooperation with the Czech Republic.
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IoM Launches B2B e-Gaming Licence 7/25/2011 The Isle of Man has launched a new Network Services Licence for business-to-business
e-Gaming operators.
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IoM Reaches Revenue Sharing Deal With UK 7/19/2011 The Isle of Man government has said that it has reached agreement with the United Kingdom on the future structure of value-added tax and customs duties revenue-sharing arrangements going forward, bringing greater certainty to island businesses.
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