In his statement to Tynwald on 16 October 2012, the Chief Minister announced that Treasury will bring forward a revised tax strategy in December. He said that the strategy will seek to create an income tax and national insurance system that is fair, simple to comply with, simple to administer and maintains the Island’s competitive position.
As part of the preparation of that strategy, the Income Tax Division undertook a consultation exercise in July of this year, publishing a document entitled ‘The Taxation Strategy 2012-2016’. This was intended to both stimulate debate and to seek the views of the Manx community.
The document prompted one of the largest responses the Division has received to a consultation, and Treasury would like to thank all respondents for their contributions.
The submissions have now been reviewed and a response document, summarising the comments, has been published.
The consultation response document is available on the Income Tax Division website at:
http://www.gov.im/treasury/incometax/ConsultationDetail.gov?id=327. Alternatively, a paper copy can be obtained from the Division or by contacting General Enquiries on 685400.
