VAT is to be cut for food and attractions.
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The changes in the Isle of Man follow today’s announcements by UK Chancellor of the Exchequer Rishi Sunak MP.
The rate on eating out in restaurants and attractions will be reduced to 5% from 20% from Wednesday, July 15, to Tuesday, January 12.
The Manx government says more details will be issued shortly.
The move here is in line with the Isle of Man’s Customs and Excise agreement with the UK in which the two jurisdictions pool VAT.
In the UK, the VAT rate for accommodation is being cut to 5%. But that VAT rate already applies to accommodation in the Isle of Man.
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