How Isle of Man gives big refunds to super-rich on private jet imports
Paradise Papers reveal some of the world’s wealthiest people use Manx customs to pay zero VAT on luxury planes
The Isle of Man government approved tax avoidance schemes that have refunded more than $1bn to the super-rich and to multinationals on the import of hundreds of private jets into Europe.
The Paradise Papers reveal how Manx customs worked closely with the offshore law firm Appleby and the big four accounting firm EY, to approve schemes which have ultimately helped some of the world’s wealthiest individuals reduce import VAT bills to zero.
Source: Guardian Transport