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Consultation on tax relief proposals

The Manx government says it's looking into how trading losses can be relieved for tax purposes, and it's asking members of the public for their views.

Current regulations date back to 1988, but now corporate and non-corporate taxpayers are treated differently for income tax purposes, the Treasury says it wants to update the loss relief provisions for both regimes.

An outline of the proposals, and copies of two draft Orders, have been published today (Monday) by the Income Tax Division and are available from gov.im, the government's website.

Anyone who wants to submit their views should do so before August 26.

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