Isle of Man Could Be Tax Haven For Space, Satellite Companies

By | February 23, 2004 | Uncategorized

The Isle of Man is positioning itself to become a tax haven for companies involved in space and satellite businesses.

A big draw would be a newly announced zero corporate income tax to such businesses. The tax break for space and satellite companies was unveiled this week during a budget presentation by the island’s Treasury Minister Allan Bell.

The Isle of Man already has a zero tax regime for a number of industries, including shipping, insurance and fund management, and it is moving to a standard zero rate for business in 2006. The island is located in the heart of the British Isles in the center of the Irish Sea, roughly equidistant between London and Dublin.

For more information, contact Christopher Stott, president & CEO, of ManSat LLC, by phone, 281/228-9155, or by e-mail, chris.stott@mansat.com.

For in-depth coverage of this story, see the Feb. 16 issue of Satellite News. For more information about subscribing to PBI Media’s satellite newsletters, check out our Web site at www.satellitetoday.com.

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