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'Time will tell' about impact of Biden's tax plans on IoM

US president wants to stop businesses shifting profits overseas

'Time will tell' whether US President Joe Biden's plans to encourage a worldwide minimum business tax rate will impact on the Isle of Man.

That's according to former tax advisor Phil Dearden, who says it's likely the proposals will be 'watered down' following negotiations.

He says the President's aim is to stop multinational corporations shifting profits overseas:

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