The Paradise Papers have prompted a call for our VAT sharing deal to be revisited again - with claims by offshore critics that we are still being subsidised by the UK.

Our public finances are still reeling from the loss of more than £200m in VAT revenue - a third of government income - after the UK revised the Customs revenue sharing arrangement twice in two years, in 2009 and 2011.

Our share of revenue from the Common Purse fell from a high of £464m in 2006-07 to a low of £252m in 2012-13.

Since then, however, the figure has started to rise again, and following the introduction last year of FERSA (Final Expenditure Revenue Sharing Arrangement), which calculates our share of VAT and duties based on final expenditure, it is forecast to grow to £340m by March 2019.

Now, following the release of the Paradise Papers, comprising seven million documents stolen from offices of global law firm Appleby, critics of offshore centres have been looking again at our VAT deal. Focus has been on allegations of VAT abuse relating to the importation of corporate jets into the EU via the Isle of Man.

But tax campaigner Richard Murphy, who claims credit for the 2009 and 2011 raids on the revenue-sharing deal, believes we are still be ’subsidised’.

He said: ’It still appears to be true that the UK is subsidising the Isle of Man to be a tax haven. My estimate that the current subsidy may be more than £70m a year. The scale is not as big as it was, but it’s still serious.’

But in a statement, the Manx Treasury said: ’The Isle of Man is not being subsidised by the UK.

’FERSA is in place to ensure the Isle of Man and the UK get their fair share of the revenues they collect for each other.’

HM Treasury and the Manx Treasury signed a FERSA in March 2016, the new deal based on detailed surveys of household and business expenditure and not on national income data.

In 2015-16, our share from common duties of VAT, beer, wine, spirits, cider and perry, tobacco, products, customs and pool betting was specified as £297.8m.

In addition, we received £30.3m in hydrocarbon oil duty (HCO) based on actual consumption and £1.5m lottery duty paid here but collected in the UK, making a total of £329.6m.

FERSA provides that the island’s share of common duties rises by 4.5% a year, increasing to £311m in 2016-17, £324.9m in 2017-18 and £339.5m in 2018-19.

But in the interests of prudency, the Manx government has budgeted for an annual rise of 3%. That still provides for an estimated £403m of total Customs and Excise income - including hydrocarbon and lottery duty - by 2021-22.

Treasury said the 4.5% increase was a ’temporary estimate’ and payments back to 2013-14 will be adjusted when the next FERSA surveys in 2018-19 are finalised.

In 2006-07 we received £464m from the common pool, but this slumped to £361.8m the following year and £366.6m in 2008-09, and then to £339.4m in 2009-10 and £337.5m in 2010-11. Following the second VAT bombshell, our share from the pool was reduced to a basic £227m in 2011 plus a transitional payment of £45m from 2011-12 (total £272m) and £25m for 2012-13 (total £252m).

Provisional shares of £270m for 2013-14, £278m for 2014-15 and £286m for 2015-16 were set out, pending FERSA.