Treasury says taxing property deals in the UK is 'fair'

Wed, 30 Mar 2016

Changes to property taxation in the UK Budget are 'fair'.

That's according to the Treasury Minister - who says the UK Chancellor is right to withdraw from a treaty allowing Isle of Man-based companies a tax exemption on UK property deals.

Corporate service providers have been slammed with a tax increase from zero to 20 per cent in a landmark move.

Government agrees the strategy provides greater competition both on and off-Island - Eddie Teare explains his position: