LightingShowroom to supply lighting for large Isle of Mann project
Tax shelter attorney builds showplace home
Boise, ID 11/11/2010 05:55 PM GMT (TransWorldNews)
LightingShowroom wins contract to supply lighting products for a major private home on the Isle of Mann. CEO Rosemary Wickowski said, "We were pleased to be selected as the supplier for this showplace development. It will be our first project on the Isle of Mann."
The Isle of 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 island is not part of the United Kingdom, but its foreign relations and defence are the responsibility of the UK Government. Although it does not usually interfere in the island's domestic matters, its "good government" is the ultimate responsibility of the Crown.
Well known as a tax friendly jurisdiction, the Isle of Man is a low-tax economy with no capital gains tax, wealth tax, stamp duty, or inheritance tax and a top rate of income tax of 20%. A tax cap is in force; the maximum amount of tax payable by an individual is £100,000 or £200,000 for couples if they choose to have their incomes jointly assessed. The £100,000 tax cap equates to an assessable income of approximately £570,000. Personal income is assessed and taxed on a total worldwide income basis rather than a remittance basis. This means that all income earned throughout the world is assessable for Manx tax rather than only income earned in or brought into the Island.
The rate of corporation tax is 0% for almost all types of income, which accounts for its status as a tax haven. The only exceptions are that the profits of banks are taxed at 10%, as is rental income from land and buildings situated on Mann.
Offshore banking, manufacturing, and tourism form key sectors of the economy.
Wickowski continued, "Interestingly the project will feature products from Hinkley, Quoizel, and ELK lighting. Most projects tend to be from a single manufactuerer. The coordination of styles and finishes was in interesting aspect of the project."
Wickowsi said, "LightingShowroom.com
is one of the top 5 online retailers of lighting products
in the US and has been serving a growing domestic and international clientele of discriminating owners looking for a full service supplier."
Wickowski explained, "The foundation of our business is customer care. We offer good value in our pricing, but attention to detail, meeting the customer needs, and working hard to anticipate and prevent problems is really what we are about. Value is the combination of quality products, fair pricing, and best in class customer care. Those are the things we work on all the time. We have found that our focus on the entire customer experience brings us loyal repeat customers and great word of mouth support which allows us to remain one of the top lighting retailers."