The Isle of Man Government is welcoming the news that the withdrawal of the Island\'s attribution regime for individuals will mean the 0/10 corporate tax system is compliant with the EU Code of Conduct for Business Taxation.
The ARI's removal was announced in last years budget, it was seen as a necessary measure to protect 0/10 corporate tax - a highly attractive prospect for companies wanting to do business on the Island.
The endorsement of the change was expected in January but came earlier via a meeting of the European Environment Council.
Chief Minister Allan Bell said, The outcome of this process is a further endorsement of the Island’s policy of responsive engagement with international scrutiny while always seeking to defend our own strategic interests.’
The ARI will be abolished from April of next year.
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