In order to stimulate business in the hospitality sector, the Isle of Man’s VAT rate on food and attractions will be reduced to 5% from Wednesday 15 July to Tuesday 12 January.
Further details on what the VAT reduction will apply to will be issued shortly.
This is in line with the Customs and Excise agreement with the UK, and follows announcements made today by UK Chancellor of the Exchequer Rishi Sunak MP.
A 5% VAT rate already applies to accommodation in the Isle of Man.
