A DECISION by European finance ministers on whether to endorse the island’s zero/10 tax regime has been delayed.
It had been hoped that following the Manx Government’s move to scrap the anti-avoidance measure ARI (Attribution Regime for Individuals), zero/10 would be formally deemed a non-harmful tax policy by the Economic and Financial Affairs Council (ECOFIN) at its meeting this month.
But the item has now been taken off the agenda for this month’s meeting and it is now expected to be considered instead early in the new year.
Chief Minister Allan Bell MHK suggested that the move was not a major setback and the delay was the result of ECOFIN being distracted by the turmoil of the European debt crisis.