Isle Of Man Launches Zero Tax For Space Industry

SPACEMART

illustration only

Isle Of Man - Feb 18, 2004
The Isle of Man is positioning itself as a centre serving 21st century technology by extending its zero rate of corporate income tax to businesses involved in the space and satellite industry.

The move was announced by Island's Treasury Minister Allan Bell when he presented the Manx Government's annual budget today (Tuesday, February 17, 2004).

The Isle of Man already has a zero tax regime for a number of industries - including shipping, insurance and fund management - and is moving to a standard zero rate for business in 2006.

Said Mr Bell: "I intend to extend the existing zero-rate to new opportunities as and when they arise. A small but exceedingly promising area is Space and Satellite Technology. This will encompass the manufacture, operation, sale or other activities provided in respect of launch vehicles, satellites or similar assets, including those educational and other training activities that are directly associated with the industry.

"A two-day course for representatives from the Island's business community and other interested parties will be given by the International Space University from Strasbourg at the International Business School in May 2004 and will provide an opportunity to impart detailed knowledge of the space industry and the business opportunities it affords the Island's economy.

"Companies involved in this high value added category, will from 6 April 2004 be included in the growing number of activities that already benefit from the zero rate band of tax.

"I am extremely hopeful that high technology businesses will look to the Isle of Man as their preferred location, and know that the Treasury and the Department of Trade and Industry are working to further develop relations with several multi-national companies.

"One such company that provides a range of global communications services via its network of satellites has already established a base on the Island. Such developments fit perfectly within our economic plans and are made possible by the new taxation strategy."

The Isle of Man is a Crown Dependency in the British Isles. The Island is one of the world's largest offshore banking, financial services, and insurance industry centres. It is also home to a growing commercial shipping register and a small but focused space and aerospace manufacturing industry. The Isle of Man is a member of the WTO, OECD, IMF, and holds special membership of the EU.

Meanwhile, on the political risk front, the Isle of Man Government celebrates 1,025 years of uninterrupted continuous democratic home rule.

SPACEMART

Commercial Applications of Space Technology: A Japanese Perspective

Tokyo - Jan 21, 2004
Organic Waste Recycling System is one of JAXA's challenging projects. Using space technology, JAXA is trying to develop an garbage disposal system, which could be applied to environmentally friendly recycling on the earth of organic waste materials -such as food waste, livestock manure. It is hard to imagine a garbage disposal system to be based on the space technology, but they are related as a matter of fact.

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

The content herein, unless otherwise known to be public domain, are Copyright 1995-2016 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.