Treasury awaiting 'detail' of G7 tax deal

Cannan describes it as 'important step'

More detail is still needed over a global tax deal and the implications it may have on the Isle of Man.

The Treasury Minister says it's 'still to come' after G7 finance ministers agreed to make big companies pay tax in the countries they do business. 

Some have warned the Island's low tax status, used to attract firms here, could be threatened by the move.

Alfred Cannan says the proposed deal is an 'important step' and the Island will be engaging closely with the finer detail of the framework: