From April 5, businesses in the Isle of Man will enjoy even bigger financial breaks, according to the Island’s director of e-business.
Last week Tim Craine, said the Island would cap personal gains tax at ?100,000.
This means that individuals earning up to ?580,000 per annum will have to pay a maximum tax bill of just ?100,000.
Craine added he expected this to attract start-up firms to the Island.
“We want to attract the serial entrepreneurs,” he explained.
The Island will also introduce corporate tax at 0 percent as standard.
Bill Mummery, the Island’s head of e-gaming development, said it hoped this would entice new companies to the Isle of Man and foster internal investment from companies already in operation.