New income tax laws passed their latest hurdle in the House of Keys on Tuesday.

The Income Tax Legislation (Amendment) Bill went through the detailed scrutiny of the clauses stage.

The Bill confirms temporary taxation orders to extend tax relief for nursing expenses to include the costs of employed qualified physiotherapist in certain circumstances, and another that enables a new type of pension scheme to be offered by pension providers.

A third temporary order that will be confirmed introduces an anti-tax avoidance measure which aims to limit the tax loss that can occur when Isle of Man companies are used to convert taxable income into capital gains, which are not taxable in the island.

The Bill also updates law covering the appointment of authorised officers by the income tax assessor and their powers. There is also a requirement for a foreign company that is tax resident in the island to ensure the information on the legal owners of the company is held by a someone resident here.

If the Bill is granted a third reading by MHKs, it will then move on to the Legislative Council for further consideration.