The amount of money being made from corporate income tax has been the subject of a House of Keys question for written answer.
In it, West Douglas MHK Chris Thomas asked the treasury minister what the estimated corporate income tax payable was in 2013/14 on banking business income, land and property income from Isle of Man sources, and retail business profits above ?500,000.
The amounts due and payable in that year were assessed in the previous year and were as follows; banking and business income - ?16.57 million; land and property income - ?4.48 million.
There was none for the third category, as the ten per cent tax rate for larger retailers only came into effect from April 6 2013.
Predictions for the tax due and payable in the year ending March 31, 2015, are ?700,000 and ?200,000 higher respectively for the first two categories, and ?2 million for retail business profits over ?500,000, the first year it will be collected.