Why Does Mann Have Vat?

[manxchatterbox]

Who gets all the tax of Petrol etc, is it th UK and if so why

 

I'd be interested in finding out too. I know there's no freedom of government information on the island, un like the UK, but who would you direct a question like this to? I would hope that the fuel duty goes only to the island's coffers.

 

 

...Stephen Carse...or one of his colleagues at IOM Govt Economic Affairs...they are really helpful people with stats and info...

[ButterflyMaiden]

Im sure the results of this research Click ! would answer most if not all questions about the Common Purse.

Has anyone been lucky enough to meet Mr Gawne or to read his work ?

[cheesemonster2005]

Im sure the results of this research Click ! would answer most if not all questions about the Common Purse.

Has anyone been lucky enough to meet Mr Gawne or to read his work ?

 

Seems very interesting - had no idea there was an MA in Manx Studies. The website details the common pourse agreement but doesn't really talk about the results of his investigation. I'd love to know more and may contact Mr. Gawne if I can.

[AlexMcC]

I miss Duty Free

[Ripsaw]

From This Is Jersey.com

 

AROUND 100 jobs could be lost as a result of yesterday's announcement of a clampdown on internet retailers who exploit Jersey's VAT-free status.

 

However, it remains to be seen whether the move will be enough to appease the UK Treasury, which has taken a dim view of what it sees as another offshore tax dodge.

 

The worst-case scenario is that moves could be made in Westminster to force the closure of the VAT-loophole that benefits companies which sell Jersey Royal potatoes, flowers and other local products to the UK, as well as those selling DVDs and CDs.

 

Companies such as Asda and Tesco which exploit a tax loophole to sell DVDs and other goods at VAT-free prices to UK customers have been given 12 months to shut up shop and leave the Island.

 

 

Published 01/03/06

[manxman8180]

blah.....blah......It is very beneficial for vessel owning structures and if the commercial aircraft registry ever gets going it will facilitate that business too.....blah....blah....

...apparently a 'high profile' figure from the UK aviation industry (Biggles?) has been appointed as the Director, so it might not be too long in coming to fruition.

 

I imagine there'll be a shite load of red tape along the way though.

 

But in fairness, Marine has proved successful so you never know......

[When Skies Are Grey]

Thanks for the heads up.....although I wont start redrafting our brochure just yet. Personally I think it would be a good move for the Island.

[Juan Kerr]

I'm fully aware of the constitutional situation regarding Ellan Vannin and the UK - although I'd always prefer a fully independent nation. Does anyone know why the island has VAT yet the Channel Islands don't? What happens to VAT charged on the island and do you think we'd be better off without it? I dislike indirect taxation with a passion as it's unfair for the majority of people as richer people, although they spend more, often don't spend the same proportion of their income - i.e. they save more money.

 

The only use of indirect taxation I can see is for discouraging or compensating certain activities - like petrol tax; tax on ciggies, alcohol and pot; tax on brothels and so on.

 

Should we get rid of VAT?

 

 

Quote from a financial website telling us that we 'enjoy' a customs union with the UK:

" Unlike Jersey and Guernsey, the Isle of Man enjoys a Customs Union with the UK for VAT purposes (Protocol 3 of the Treaty of Accession, 1972). Significant number of ship and yacht registrations. Growing banking and insurance sector."

 

 

If you don't want VAT fine - but it raises £360M a year for Treasury so if you do away with it would you be happy for taxes to go up to plug the £360M hole in the economy.

 

(I'm guessing not)

 

Sad fact is that its only the VAT receipts that have kept tax rates here so low for so long.