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Isle of Man to 'engage closely with partners' following G7 tax deal

Ellan Vannin dy 'loayrt dy chionn rish parteeassyn' lurg reaghys keesh G7

Shirveishyn argidys coardail er rate keesh chorpagh sloo feiy ny cruinney jeh 15%

Ta reiltys Ellan Vannin gra dy jean eh 'loayrt dy chionn rish parteeassyn' lurg da chaglym jeh shirveishyn argidys y G7 coardail rish rate keesh chorpagh feiy ny cruinney.

Ta dean ny reillyn noa dy ghooney barnaghyn ta lhiggey yn raad da foawryn chagnoaylleeaght shaghney keeshyn.

Ren yn reaghys coardail rish y vun-eie dy jean colughtyn multi-ashoonagh eeck rate sloo jeh 15 per cent ec y chooid sloo ayns dagh cheer aynjee t'ad gobbraghey.

Ta'n chooish er ny goaill rish liorish Reiltys Ellan Vannin, agh t'eh cur feysht mychione coarys-keesh 'neunhee-jeih' yn Ellan t'er ve ayn rish foddey.

Ta'n Shirveishagh Tashtee Alfred Cannan gra, "My vees coardail politickagh feiy ny cruinney er ny gheddyn, bee feme er goaill ayns laue obbyr mooar dy liooar elley ayns aght dowanagh ayns ny meeaghyn as bleeantyn shoh cheet dy chur bree da ny reillyn shoh."

T'eh gra dy jean yn Ellan 'loayrt dy chionn rish parteeassyn er myn-phoyntyn s'jerree y chreatlagh."

Ayns fogrey veih'n reiltys, t'eh gra "Ta barganaghyn foast goll er cheusthie jeh'n Reagheydys son Co-obbraghey Tarmaynys as Lhiasaghey, roish chaglym eddyr yn 139 lught-reill ta nyn olteynyn Creatlagh Cooidjagh y Reagheydys er Crimmey Undin as Scughey Vondeish, vees ayn 30 Mean Souree – 1 Jerrey Souree 2021." 

 

Finance ministers agree global minimum corporation tax rate of 15%

The Isle of Man government says it will 'engage closely with partners' following a meeting between G7 finance ministers, agreeing a global minimum corporation tax rate.

The new rules aim to close loopholes which let technology giants avoid taxes.

The deal agreed in principle that multinational companies pay a minimum rate of at least 15 per cent in each country they operate.

The move has been acknowledged by the Isle of Man Government, however it puts a question mark over the future of the Island's long-standing 'zero-ten' tax regime. 

Treasury Minister Alfred Cannan says, "If global political agreement is reached, significant further work will need to be undertaken at a global level in the coming months and years to bring these rules into operation."

He says the Island will "engage closely with partners on the final detail of the framework."

In a statement from government, it said "Formal negotiations are continuing within the Organisation for Economic Co-operation and Development (OECD), ahead of a meeting of the 139 member jurisdictions of the OECD Inclusive Framework on Base Erosion and Profit Shifting, which takes place 30 June - 1 July 2021."
 

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