MHK asks for tax cap statistics

Thu, 22 Mar 2012

Questions about the Island's tax cap are to be raised in next week's sitting of the House of Keys.

Douglas South MHK Kate Beecroft wants to know how many residents have benefited from the cap since it was brought in in 2006.

Treasury Minister Eddie Teare announced in last month's budget that the cap on the amount of tax paid by individuals will rise from £115,000 per year to £120,000 from April this year.

Another Liberal Vannin MHK, Peter Karran, asked a similar question last year, which revealed between 72 and 78 people had benefited from the cap each year.

Mrs Beecroft also wants to know how many were resident for more than a year before the cap was brought in.

Mr Teare will provide the updated statistics when the House of Keys sits on Tuesday.