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Zero 10 Update

Posted on in IQE Isle of Man

Following an announcement by Treasury Minister Anne Craine in her budget speech regarding the abolition of the attribution regime for Individuals (ARI) feedback has now been received from the EU Code of Conduct Group agreeing in principal that the Isle of Man's business tax system will no longer be considered harmful.

This is of course subject to ARI being abolished in April 2012 as proposed. Welcoming the news Mrs Craine commented 'This is a positive development for the Isle of Man. It is an endorsement of Government's strategy of responsible engagement with international concerns while promoting the Island's legitimate interests'. David Karran, Managing Director of IQE, commented; "The Isle of Man is widely recognised as a jurisdiction which cooperates at an international level and strives to enhance its excellent reputation further. The EU Code of Conduct Group's endorsement of the Isle of Man's business tax system reflects the Island's position as being at the forefront of the international financial community."

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