Tax increase could impact Douglas Masterplan investment

Tue, 24 Feb 2015

Douglas Masterplan

Will an increase on land and property tax impact government's efforts to attract private investment for the Douglas Masterplan?

Announced in last week's budget, the tax rate paid by companies on income from local land and property will increase from 10 per cent to 20 per cent.

It's anticipated this will raise £3 million a year.

Economic Development Minister Laurence Skelly had this to say: