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Zero-ten praise for Treasury from finance sector

A well known figure in the finance sector is welcoming the approval given to the Isle of Man's amended Zero-ten corporate tax regime by European Union finance ministers.

John Webster of Manx Business Connection says it's excellent news for the Island, and is praising the work of the Treasury in making it happen, in the face of what he calls 'unreasonable and unremitting pressure'.

The revised Zero-ten scheme had not been due for consideration by the Economic and Financial Affairs Council (ECOFIN) until the New Year.

But news came late yesterday (Monday) that endorsement of a recommendation from the EU Code of Conduct Group had been given by ECOFIN, which had been keen to conclude Code business before the end of the year.

Mr Webster says it is frustrating the Isle of Man has to jump through so many hoops when other, larger nations, don't:

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