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Treasury Minister quizzed on VAT changes

The Treasury Minister has today been asked in the house of keys how changing VAT rates on ebook downloads in France and Luxembourg could impact the Isle of Man's share of the VAT pot.

Minister Teare said for both this year and the next the Island's VAT allocation is fixed by an earlier agreement with HM Treasury.

 

Beyond that however the Minister conceded it is harder to predict as his department currently don't have the statistics for people both here and in the UK downloading e-books.

 

The EU are looking to make radical changes in relation to VAT being charged on electrical services, but these won't be applied until 2015.

 

The question was asked by Douglas South MHK, Kate Beecroft.

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