Located in the Irish Sea between the North West of England and Northern Ireland, the Isle of Man's economy rests solidly on the provision of offshore financial services to wealthy individuals and multinational corporations in a low-tax environment. However, e-commerce, and in particular e-gaming, has quickly grown to become the second pillar of the island's economy. Read
With its low tax, business friendly ‘E-Zone’ legislation, advanced telecommunications infrastructure, and sophisticated business environment, the Caribbean island of Curaao is now a very attractive proposition for e-commerce companies looking to locate operations or back-up facilities in the Americas region.
The jurisdiction of Curaao was created on October 10, 2010 when the Netherlands Antilles was dissolved and became two separate jurisdictions, the second being Sint Maarten. At the same time, the other three islands that made up the Netherlands Antilles (Bonaire, Sint Eustatius and Saba) became special overseas municipalities of the Netherlands. Curaao lies about 50 km north of Venezuela and is about 2.5 hours by air from Miami. Read
Major changes to the regulation of the gambling industry in the United Kingdom were brought about by the Gambling Act in 2007, and this report examines how yet more proposed changes to the legislation will affect remote gambling and gaming firms offering their services to British gamblers. Read
With flexible and responsive regulatory systems and low or zero rates of taxation, it is not surprising that the internet gaming industry has a found its home offshore. Those jurisdictions which have invested in an appropriate legal framework and advanced telecommunications infrastructure have generally reaped the benefits of the rapid growth in this sector over the last decade. The tiny Caribbean territory of Antigua and Barbuda, and the Mediterranean island of Malta, a member of the European Union (EU), are two such jurisdictions. However, legislative and regulatory developments in the United States and the EU have put the very existence of the internet gambling industry in these places under threat, with disastrous economic consequences, actual in the first case and potential in the second. Read
National tax systems, which have traditionally rested on the principles of jurisdiction and physical presence, have been slow to adapt to the nimble and borderless world of e-commerce, especially of the offshore variety. However, driven by the need to raise ever greater sums in tax revenue, this is a situation that is beginning to change. Read
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.