CHIEF Minister Tony Brown MHK has confirmed that discussions are continuing between the Isle of Man and United Kingdom governments over a revision of the arrangements for sharing revenue from VAT and other indirect tax between the two countries.
The Chief Minister said:
‘This matter is still under discussion so it is not possible at this stage to say exactly what the impact of this revision will be on the Isle of Man Government’s finances, though it will be significant. I intend to provide further clarification for Tynwald Members and the public with a statement to the October sitting of Tynwald next Tuesday October 20, 2009.’
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