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No plans for additional company charge

Wed, 24 Jan 2018

Enterprise Minister Laurence Skelly MHK
Enterprise Minister Laurence Skelly MHK

The Enterprise Minister says there are no plans to introduce additional charges to companies registered on the Isle of Man.

Laurence Skelly revealed in this week's sitting of the House of Keys that there are almost 27,000 live companies incorporated on the Island, most of which already pay an annual fee of £380, except charities and some property management companies.

The Minister warns bringing in an additional levy could drive business elsewhere and damage the Island's economy long term.

Mr Skelly added that the annual return fee is benchmarked against other jurisdictions to ensure new business isn't deterred.

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