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Isle of Man

Government

Tynwald, the Island's 1,000 year old Parliament, makes its own laws and oversees all internal administration, fiscal and social policies. External issues, such as foreign representation and defence, are administered on the Island's behalf by the U.K. Government. The Island makes an annual payment for these services.

As a Crown dependency, the ultimate responsibility for the government of the Island is vested in the Crown. By long standing convention, the U.K. Government does not legislate for the Island except with the specific consent of the Island's Government.

The Island has its own Income Tax and Customs and Excise services and is an established low tax area enjoying total independence from the UK on matters of direct taxation. There is low corporate and personal tax and no capital transfer or inheritance tax. As a consequence the Island has developed into a flourishing and internationally respected offshore business centre.