Tax, VAT and Your Money News

Sanctions Notice: European Union Sanctions

Libya and Iran On 18 August 2015, two new Orders applied in Island law two Council Regulations that made amendments to the sanctions regimes in respect of...
Wednesday, 19 August 2015

Proposal to end age exemption from National Insurance payments

The Treasury has launched a public consultation on a proposal to stop workers being exempted from making National Insurance contributions once they reach state...
Wednesday, 19 August 2015

Procurement move saves over £4 million for the taxpayer

The initiative to centralise Government's procurement of goods and services, and to put more contracts out to competitive tender, has so far saved the taxpayer...
Thursday, 13 August 2015

Proposals to reinforce the Island’s defences against financial crime

The Cabinet Office has launched separate consultations on two new Bills designed to reinforce the Isle of Man’s defences against financial crime, including...
Thursday, 13 August 2015

Sanctions Notice: Financial Sanctions: Terrorism and Terrorist Financing

The Terrorism and Other Crime (Financial Restrictions) Act 2014 implements the terrorist asset-freezing requirements of UN Security Council Resolution 1373...
Wednesday, 12 August 2015

Sanctions Notice: United Nations and European Union Sanctions: Ransom Payments

Under the Isle of Man’s anti-terrorism and sanctions legislation it is illegal to make payments to terrorists and terrorist organisations or for the purposes of...
Friday, 7 August 2015

Financial Sanctions: Iran (Nuclear Proliferation)

This news release is issued in respect of the restrictive measures directed by the Council of the European Union against Iran. The following entries have been...
Thursday, 30 July 2015

Financial Sanctions: Belarus

This news release is issued in respect of the financial measures taken against Belarus. Annex I to Council Regulation (EC) No 765/2006 (“the 2006 Regulation”)...
Thursday, 16 July 2015

Sanctions Notice: Financial Sanctions: South Sudan

This news release is issued in respect of the restrictive measures directed against certain persons and entities associated with South Sudan. Annexes I and II...
Monday, 13 July 2015

Tynwald approval sought for transfer from public sector pension fund

Tynwald Members will be asked to approve the transfer of £5.2 million to Government's revenue account from the Public Service Employees Pension Reserve.The need...
Thursday, 9 July 2015