More than £10 million collected in Income Tax
More than £10 million has been collected in Income Tax from retail businesses on the Isle of Man over the last five years.
That’s from the treasury minister who says it’s been generated from companies with annual taxable profits of £500,000 or more.
Alex Allinson was quizzed on the subject in the House of Keys this week.
South Douglas MHK Claire Christian questioned why the figures for the last five years were well below previous forecasts of £3.5 million per annum.
Dr Allinson told her forecasting retail revenue, and profits, is ‘often difficult’ particularly when the number of businesses changes:
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