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No evidence 'Black Economy' is growing

Fri, 22 Jan 2016


There's no evidence to suggest that the 'Black Economy' on the Isle of Man is growing.

That's according to the Treasury - it thinks reducing the VAT rate in the building and accommodation sectors has stopped people working in cash to avoid paying tax.

However Minister Eddie Teare is warning tax avoiders they will be caught saying it's "only a matter of time".

He says compliance officers will always target those who look to be flouting the system:

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  • Eddie Teare MHK

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