Eddie Teare says Double Taxation Agreements will be vital
A former treasury minister says taxation changes from the G20 could be beneficial for the Isle of Man.
The Island currently operates a "Zero-Ten" policy meaning the basic tax-rate on corporate profits is 0% and companies receiving income from banking businesses and land/property in the Isle of Man are taxed 10%.
An agreement by the G20, which the Isle of Man has backed, means corporate tax will be at a minimum of 15% worldwide.
Eddie Teare was the treasury minister between 2011 and 2016.
He says the Manx economy could be better off when the changes come into force:
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