TAXATION STRATEGY CONSULTATION ISSUED

In his 2012 Budget speech, the Treasury Minister, Hon. Eddie Teare, MHK, gave a commitment to publishing a new taxation strategy before the end of this year which, if supported by Tynwald, will indicate the areas of the taxation system which he would like to update during his time in office.

As part of the preparation of that strategy, the Income Tax Division, on behalf of Treasury, has today published a consultation document entitled ‘The Taxation Strategy 2012-2016’. This is intended to stimulate debate on a key aspect of Government in the Isle of Man; and to seek the views of the Manx community, both private and business, on future changes to our taxation and national insurance systems.

The Income Tax Division has also published an information pack containing income tax and national insurance data which people may find useful when considering the contents of the consultation document.

Anyone wishing to submit their views on the consultation topics is invited to do so by 7 September 2012. Responses should be sent to:

The Taxation Strategy Consultation

Income Tax Division

The Treasury

Government Office

Douglas IM1 3TX

Email: consultation@itd.treasury.gov.im

The consultation document and accompanying information pack are available here.

Alternatively, a paper copy can be obtained from the Division or by contacting General Enquiries on 685400.