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Island could go it alone on VAT - claim

Breaking the Isle of Man's VAT ties with the United Kingdom is a viable option, according to a prominent figure in the local manufacturing sector.

Dr Helmut Kessler, of CVI Technical Optics in Onchan, was speaking after the news the Island will lose £90 million next year and £140 million in subsequent years, following changes to the VAT sharing agreement with the UK.

The Channel Islands generate business by offering products and services VAT-free, and Dr Kessler believes the Isle of Man is well placed to do the same:

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