The island expects the move to cost around £20m a year but expects to generate other revenue as more companies move to place their head offices on the island.
Specualtion points to Guernsey and Jersey possibily following the move, which will anger UK Treasury officials already concerned by the number of companies registering off-shore.
According to reports in today’s press the move to a zero coporation tax rate resolves the issue of ‘exempt companies’ status on the island, which already allows companies based there to pay no tax on earnings from outside the Isle of Man.
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars