Tax, VAT and Your Money News

This news release is issued in respect of financial sanctions imposed against the Democratic Republic of the Congo. Annex I to Council Regulation (EC) No...

Treasury Minister Alfred Cannan MHK has today issued assurance to the business community that a huge amount of work is taking place to establish support...

The scheme allows you to account for VAT (output tax) on your sales on the basis of payments you receive, rather than on tax invoices you issue. This is...

In his Budget speech last month, the Treasury Minister announced changes in income tax personal allowances as follows: Personal...

Treasury Minister Alfred Cannan MHK today unveiled a Budget of Focus to enable the Isle of Man Government to meet its fiscal plan, grow the economy, deliver...

A capital programme set at £159 million will focus spending on a range of schemes aimed at delivering a lasting legacy for the people of the Isle of...

Total Government gross spending projected for 2020-21 equates to around £13,220 per head for every man, woman and child of the Island’s population*. This per...

An increase to the personal income tax allowance of £250 to £14,250 will lift 465 people out of the tax net and reduce income tax by up to £50 for individuals...

This news release is issued in respect of the restrictive measures directed against Iraq. Annexe III to Council Regulation (EC) 1210/2003 has been amended with...

The Treasury advises that the Value Added Tax (Place of Supply of Goods)(Amendment) Order 2020 and Value Added Tax (Amendment) Regulations 2020 have been made...