Coronavirus: VAT cut for IOM food and leisure sectors extended
- Published
Lower VAT rates on food will remain in place until 31 March
A scheme designed to boost the Isle of Man's hospitality industry is being extended until the end of March.
The Manx government cut VAT from the standard 20% to 5% in the leisure and accommodation sectors from 15 July, initially for six months.
The move keeps the island's rates in line with changes announced by the UK Chancellor on Thursday.
Manx Chief Minister Howard Quayle said the hospitality sector was still "severely impacted" by border closures.
Further support for affected companies would be announced "in the coming days", he added.
In brighter news, Mr Quayle said the "vast majority" of Manx businesses were now running again following the lifting of Covid-19 lockdown restrictions on the island.
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- Published24 September 2020
- Published9 July 2020
