Major survey to shape future of customs and excise revenue

Fri, 16 Nov 2012

Householders are being appealed to by Government to help them ensure they’re receiving their fair share of VAT and customs revenue from the UK.

They’ll be asked to take part in a major survey which will gauge local spending, the results will help confirm the amounts due to the Island under the existing agreement.

The UK Government have said they need to see revised information about the Island’s spending patterns, to underpin the calculation of our share of the funds.

As it stands 57% of Government’s revenue comes via the Customs and Excise agreement.

Economic Adviser and Head of the Economic Affairs Division Stephen Carse has said the outcome of the survey could be potentially critical for the Island’s finances.