High tech island
JUN 02, 2011
DOI: 10.1063/PT.5.025357
The Independent : A small island off the coast of England with a population of 83 000 residents is slowly becoming a leader in attracting high-tech companies in the space industry.Best known for its offshore banks and treacherous motorcycle race, the Isle of Man was recently ranked the fifth most likely “nation"—after the US, Russia, China, and India—to lead a manned mission back to the Moon. A recent report by the Economic Policy Centre underlined that by urging the UK government to learn lessons from its tiny dependent’s “conspicuously successful” approach.The island has attracted these companies by offering a corporate tax—with the exception of banking, land, and property earnings—of zero. Income tax is just 20% and total tax bills are capped at £115 000 ($188 000) a year.
© 2011 American Institute of Physics
