Offshore-e-com.com Favicon OFFSHORE-E-COM.COM
Join us on Twitter Lowtax Facebook page Join our discussion on LinkedIn Join us on Google+ Delicious Subscribe to the Tax-News RSS Feed
LOWTAX JURISDICTIONS

Andorra
Anguilla
Aruba
Australia
Austria
Bahamas
Barbados
Belgium
Belize
Bermuda
Botswana
British Virgin Islands
Brunei
Bulgaria
Canada
Cayman Islands
Cook Islands
Costa Rica
Cyprus
Czech Republic
Denmark
Dubai
Estonia
France
Germany
Gibraltar
Greece
Grenada
Guernsey
Hong Kong
Hungary
Ireland
Isle of Man
Jersey
Labuan
Latvia
Liberia
Liechtenstein
Lithuania
Luxembourg
Madeira
Malaysia
Malta
Marshall Islands
Mauritius
Monaco
The Netherlands
The Netherlands Antilles
Nevis
New Zealand
Panama
Poland
Portugal
Qatar
Ras Al Khaimah
Romania
Russia
Seychelles
Singapore
Slovakia
Slovenia
South Africa
Spain
St. Kitts
St. Vincent & The Grenadines
Switzerland
Turks & Caicos Islands
United Kingdom
United States
Vanuatu

NEWSLETTER

To receive our free e-commerce updates featuring news and features, please enter your email address below:

ADVERTISING

ADVERTISE ON THIS SITE!

With over 50,000 qualified readers every month our web-sites offer a number of cost effective, targeted advertising, sponsorship and marketing opportunities:

Display advertising - from 'skyscrapers' to 'buttons'
Content/article submission and sponsorship
Opt-in email marketing
On-line Services Directory listings

Click here to learn more or contact Charles Bell on +44 (0)1424 205 425 or at charles@bsi-media.com and he will put you in touch with your regional rep..


Lowtax Network Sites
Lowtax Network Portal: 'Low-tax' business and investment in the top 50 jurisdictions covered in exceptional detail.
Tax News: Global tax news, continuously updated through the day.
Expat Briefing: A free online publication serving international expatriates and featuring world news, forums, events, in-depth country information and reliable investment and personal taxation guides.
Law & Tax News: Daily news and background data on tax and legal developments for international business.
Offshore-e-com: A topical guide to offshore e-commerce focused on tax and regulation.
Lowtax Library: One of the web's largest and most authoritative business and investment information sources.
US Tax Network: The resource for free online US taxation information, covering: corporate tax, individual tax, international tax, expatriates, sales and e-commerce tax, investment tax.
Offshore Trusts Guide: OTG publishes news, features and newsletters on the use of offshore trust structures.
TreatyPro: Online tax treaty resource.
Global Incorporation Guide [GIG]: A BSI / Lowtax Network international business smart tool.
This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.  
HOME | CONTACT | RECRUITMENT | ABOUT | LEGAL | LINKS
 

 

The Electronic Transactions Act

The Isle of Man Electronic Transactions Act, which received Royal Assent in June 2000 and was effective from November 2000, is based on Australian legislation, which is in turn based on the model issued by the United Nations Commission on International Trade Law. Its purpose was to enable electronic commerce to be put on the same legal footing as paper-based commerce, as well as removing any legal impediments to the use of electronic communications with public authorities.

The Act ensures equality of electronic transactions with paper ones, subject to precautions to ensure that electronic communications are authentic and accessible, and is technology neutral. As a general rule, electronic communications are treated as being sent from the originator's place of business and received at the recipient's place of business. It incorporates the common law principle that a communication which appears to be from a person can only be treated as such if it was sent with their authority.

Electronic signatures are given parity with written ones, and there is provision for a system of Certification Service Providers to verify the authenticity of communications.

Internet Service Providers and telecommunications operators are not required to monitor the content of communications, and will not be liable for such communications provided they take appropriate action when they are brought to their attention.

Other Legislation

Although the Isle of Man is within the European Union in some respects, applies its Common External Tariff, and imposes EU VAT in common with the UK, it does not partake of much other EU legislation, and will not need to implement the EU's or the UK's e-commerce legislation, which is notably more restrictive than the Act which has been passed by Tynwald.

During 2001 the Department of Home Affairs progressed first the primary and then the secondary legislation to legalise the operation, from the Isle of Man, of well regulated on-line gambling sites. The primary legislation, the On-line Gambling Regulation Act, came into force in May 2001. Four sets of Regulations were approved by Tynwald in June of that year, and the first three licenses under the regulations were issued that November.

A further three licenses were issued in the following year. However, after this initial success, the Isle of Man saw a steady exodus of prominent online gambling firms in 2003, a situation that many in the industry blamed on an inflexible regulatory environment.

In August, 2003, it emerged that following an amendment to the Isle of Man's 1970 Betting Act, from September 1, Betinternet.com would be permitted to advertise to potential customers in the United Kingdom. Previously, because Manx duty rates paid by the company were lower than those levied in the UK, Betinternet was treated as an overseas bookmaker, and was therefore not permitted to advertise in the UK, which as the world's third largest gaming market represented a significant loss.

However, following the legislative change, from September of that year, the firm paid the same amount of tax on UK bets as British bookies, but continued to levy the Manx rate on bets from elsewhere in the world.

By May, 2004, it was becoming clear that changes in the regulatory structure of the e-gaming sector in the Isle of Man had been successful in attracting some big name players to the jurisdiction.

“The recent reduction in our licensing fee together with revisions that allow peer-to-peer gaming and pooled jackpots have removed significant barriers to e-gaming business,” observed Trade and Industry Minister Alex Downie at the time.

In September, 2004, the Isle of Man government said it had been actively pursuing measures that could propel the Island towards assuming the mantle of the world’s IT disaster recovery hub in the field of financial services.

In a bid to achieve this, the Island’s authorities sought to agree memoranda of understanding (MOU) with multiple offshore jurisdictions which would allow firms using an Island-based disaster recovery service to operate under the same regulations as in their home jurisdictions. Legislation was passed with the aid of the Financial Supervision Commission, and it was said that the measures were the first of their type anywhere in the world.

In April, 2006, meanwhile, the Isle of Man government's head of e-gaming Bill Mummery told the London Stock Exchange that new regulations governing online gaming had been introduced in an attempt to establish the Island as an "e-gaming centre of excellence."

"In the past year the Island has become a significant recognised force in global gaming – the industry is increasingly dynamic," Mr Mummery told a conference, which included potential investors, as he outlined changes to regulations in three key areas: software testing, disaster recovery provision and advertising and marketing.

The change to software testing aim to improve the process for testing online gambling technology, such as the fairness of Random Number Generators used to deal cards or spin a roulette wheel, and implements a need for continuous monitoring of the operators' systems to ensure fairness is maintained.

Under the new regulations, operators who are licensed and regulated in other jurisdictions can use the Island to provide disaster recovery and off-line data storage facilities to support their global operations.

Rules governing advertising and marketing were also established on how Island-based online gaming businesses in this regard can support their clients.


 

STRATEGIC PARTNERS
  Lowtax.net
  Tax-News.com
  USTaxNetwork.com
  Expat Briefing
  LawAndTax-News.com
  LowtaxLibrary.com
  OffshoreTrustsGuide.com
  TreatyPro.com
  Global Incorpoation Guide [GIG]
THE LOWTAX SUBSCRIPTION LIBRARY

THE LOWTAX SUBSCRIPTION LIBRARY

FREE TRIAL NEWS SUBSCRIPTION

The Lowtax Library hosts the web's best-known US and international tax news service costing just $20 per month. Alongside topical, daily news, you can receive weekly newswires on a wide range of subjects.

FREE TRIAL NEWSWIRE SUBSCRIPTIONS

Our 16 up-to-date intelligence reports cover international tax-planning in depth, including banking secrecy, offshore funds, e-commerce and offshore gaming.

SEE REPORT DESCRIPTIONS

IMPORTANT NOTICE: Important Notice: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All rights reserved. 2017 Wolters Kluwer TAA Limited


All content on this site has been provided by BSIRN.