Taxing the space economy: Legal and financial challenges of commercial space ventures
By
The Economist
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Summary
The article discusses the evolution of space exploration from a government-led scientific endeavor to a commercial enterprise, and the emerging need for taxation frameworks for businesses operating in space. It references the historical legal principle of land ownership extending to the heavens, and highlights the growing financial and regulatory challenges as private space ventures expand.
Key quotes
· 3 pulledIn 1587 the English jurist Sir Edward Coke popularised the legal principle that whoever owned a piece of land also owned the space above it 'up to the heavens (and the stars) and down to hell'.
For much of the 20th century space exploration was a public affair handled by governments and directed toward scientific research.
Increasingly it has become a private business filled with commercial aspirants.
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