Tax holiday for commercial developers approved

Wed, 17 Feb 2016

Developers on the Island will be given a 'Land Development Tax Holiday'.

Eligible commercial land projects, and property letting, will be handed an Income Tax exemption for up to five years.

Treasury says it's to encourage businesses to come to the Island - enabling them to provide additional employment to Manx workers.

Companies need to apply to Economic Development to benefit from it - Minister Laurence Skelly explains why it's come about: