Higher than expected income tax receipts for 2017-18

Thu, 12 Jul 2018

The Isle of Man Government received £21.6m more than expected from income tax receipts last year.

The Government accounts for the 2017-18 financial year show a £23.1m surplus from the 12-month period.

As well as higher than expected income tax receipts, national insurance income was also better than forecast.

The Treasury says the budget surplus allowed it to fund the Department of Health and Social Care's overspend without drawing on Government reserves.

The unaudited accounts, known as the Light Blue Book, will be laid before Tynwald later this month.