Working Group Flag Up Concerns About Aspect Of Zero Ten Tax Regime

An aspect of the Island’s zero-ten tax regime is to come under close scrutiny by a High Level Working Party.

So far the zero ten system has not been deemed as harmful, but the attribution regime for individuals has.

The concern from the working party and the Code Group is that individuals could exploit this in an effort to avoid personal tax.

The group are now considering how best to proceed with this and a formal assessment will be subject to political acceptance by the EU Council of Finance Ministers.

The Isle of Man Government have said whatever the outcome they remain committed to ensuring that Island businesses continue to benefit from a competitive tax regime.