Tuesday, 14 April 2015 - 11:25 am (CET/MEZ) Berlin | Author/Destination: Great Britain / Großbritannien Category/Kategorie: GeneralReading Time: 4minutes
The Isle of Man, otherwise known simply as Mann, is a self-governing British Crown Dependency, located in the Irish Sea between the islands of Great Britain and Ireland within the British Isles. The head of state is Queen Elizabeth II, who holds the title of Lord of Mann. The Lord of Mann is represented by a Lieutenant Governor, but its foreign relations and defence are the responsibility of the British Government. Although the United Kingdom does not usually intervene in the island’s domestic matters, its “good government” is ultimately the responsibility of the Crown (that is, in practice, the Government of the United Kingdom).
The main international event associated with the island is the Isle of Man Tourist Trophy race, colloquially known as “The TT”, which began in 1907. It takes place in late May and early June. The TT is now an international road racing event for motorcycles, which used to be part of the World Championship, and is long considered to be one of the “greatest motorcycle sporting events of the world”. Taking place over a two week period, it has become a festival for motorcycling culture, makes a huge contribution to the island’s economy and has become part of Manx identity. For many, the Isle carries the title “road racing capital of the world”.
The rate of corporation tax is 0% for almost all types of income, the only exceptions are that the profits of banks are taxed at 10%, as is rental (or other) income from land and buildings situated on the Isle of Man. Offshore banking, manufacturing, and tourism form key sectors of the economy. Agriculture and fishing, once the mainstays of the economy, now make declining contributions to the Island’s Gross Domestic Product (GDP). Trade takes place mostly with the United Kingdom. The island is in customs union with the UK, and related revenues are pooled and shared under the Common Purse Agreement.
[caption id="attachment_196109" align="aligncenter" width="459"] Niccolò Machiavelli by Santi di Tito[/caption][responsivevoice_button voice="UK English Female" buttontext="Listen to this Post"]Niccolò di Bernardo dei Machiavelli (3 May 1469 – 21 June 1527) was an Italian diplomat, politician, historian, philosopher, humanist, writer, playwright and poet of the Renaissance period. He has often been called the father of modern political science. For many years he was a senior official in the Florentine Republic, with responsibilities in diplomatic and military affairs. He also wrote comedie...
Volgograd, formerly Tsaritsyn, 1589–1925, and Stalingrad, 1925–1961, is an important industrial city and the administrative center of Volgograd Oblast. It...
