At the same time, the Isle of Man will
"maintain competitive personal income tax rates as one of the features making the Island an attractive place to live and work; and
maintain a competitive business tax system in the Isle of Man to support economic development;"among other aspirations. I think they are in a tough spot, with the US and the UK focused on chasing individual tax cheats and corporate tax avoiders (respectively, perhaps) through their banks. By way of background, the tax strategy says:
The Isle of Man‟s taxation policies have played an important part in our economic success.
...The key principles of fiscal sovereignty, economic stability and adherence to international standards which underpinned the original taxation strategy remain just as relevant today.I'm not sure what anyone means by fiscal sovereignty anymore. Then again, I never really did think it was a real thing.