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Europe examines Manx business tax

Tue, 23 Nov 2010

The Island's Business Taxation System has been coming under scrutiny in Europe.

The EU's Code of Conduct Group is looking at the Island's zero-ten tax system.

It's expected the Group will report to the European Union's Council of Finance Ministers next month.

The Island's Treasury says it will consider the views of the EU before determining if any action should be taken.

The tax system means Manx businesses pay no corporate tax, with some taxed 10% on income.

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