Further details for a possible cap on corporate tax are still uncertain despite positive feedback to an Isle of Man consultation.
The Isle of Man Treasury’s consultation on ‘Capping Corporate Tax Liabilities’ was published on 16 March and received a total of seven responses, on the whole welcoming the idea and the proposed cap of £6m. However, the positive feedback has not hurried the decision-making process, with the Treasury pointing out it is an “ongoing” process, and although the feedback is welcome a schedule and details of the legislation are not yet available. The aim of the consultation was to seek views about plans to limit corporate tax liabilities to a level above the current highest payer, which would ...
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