Agreement to impose profit tax rumoured to be in pipeline
The Isle of Man Government needs to have a plan if a global tax deal is brought in to stop companies shifting profits to low-tax jurisdictions.
A new agreement – to impose a minimum tax on profit – could be given the go ahead before this month's G7 summit:
It's led to speculation that places like the Isle of Man could become less attractive as a destination for businesses.
Local tax expert Paul Hotchkiss says he thinks people are 'scared' about talking about tax but insists the conversation needs to happen:
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