Abolition of ARI: Paul Moulton interviews Mark Solly, the Islands former Assessor of Income Tax.
Following last months PAG meeting, Paul Moulton interviewed Mark Solly on what he sees as a tax gap arising out of the government plan to abolish ARI (Attribution Regime for Individuals). Please click on the link above to watch the interview.
It is a little techical but will mean that those that don't immediately need an income can shelter any gains from taxation by holding it within a company set up for the purpose. The rest of us therefore have to meet the tax bill for all of us....
Other resources:
Details of Mr Solly's presentation at the PAG meeting of 19 September
Government website information:
http://www.gov.im/treasury/incometax/sections/business/attributionregimeforindividuals.xml
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Comments
We'll continue to just have front-line staff such as nurses and teachers cut whilst those in the ministers offices are retained.
The rich (including our ministers with their non-contributor y pensions) don't need state education or medical cover as much as we do.
This was in preparation for the Tynwald sitting on 18th October when the last item on the Order Paper (30) is:
"That the Income Tax (Repeal of the Attribution Regime for Individuals) Order 2011 be approved."
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