Investigation by anti-fraud experts continues
The Isle of Man's tax affairs haven't escaped scrutiny by the European Commission according to a spokeswomen for the body.
Vanessa Mock insists the Manx government is still under investigation by anti-fraud experts EUROFISC for its VAT arrangements on private jets.
She says 'should it become necessary, the commission will not hesitate to take further action'.
It comes as the EU is taking action on Malta, Cyprus, and Greece for failing to raise the 'correct amount' of VAT on the provision of yachts.
The issues has been reported in an online article by the International Consortium of Investigative Journalists (ICIJ).
https://www.icij.org/blog/2018/03/europe-cracks-luxury-yacht-tax-dodge-citing-paradise-papers/
Last year the group released the Paradise Papers, a leak of financial documents which the ICIJ said exposed the 'complex corporate structures' used on the Island by rich individuals to avoid paying VAT on luxury jets imports.
A review of these tax arrangements is currently being conducted by UK authorities, who are expected to share results with the Commission.
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