No plans for Manx capital gains tax, says Treasury

The Treasury says it doesn't know how much money would be raised through a capital gains tax - and it has no plans to introduce one.

Ramsey MHK Lawrie Hooper put a question for written reply to Treasury Minister Alex Allinson about how much the Island would make from taxes on assets or wealth.

In his response, Dr Allinson said the tax strategy approved by Tynwald earlier this year ruled out any such taxes being brought in here.

And he added his department doesn't have enough information to assess how much money any asset or capital gains tax would raise.