Treasury Minister asked if system is working as intended
The number of residents on the Isle of Man who qualify for the tax cap has gone down over the past five years.
In the 2023/24 financial year, 58 people registered for the cap of £200,000 per year, compared to 73 in 2019.
In 2013/14, before a change in the rules surrounding tax caps, there were 87 people registered.
In the House of Keys today (12 March) Treasury Minister Alex Allinson was asked if the system is working:
Work underway to remove asbestos from former Golf Links Hotel
Areas containing hazardous material identified in report
Police raise welfare concerns about vehicle occupant
Officers looking for a pale blue Ford Fusion
New EV charging points planned for Island's ports
Manx Utilities also planning a solar canopy at Ronaldsway
Campaigners against offshore windfarm proposals hit out at 'undemocratic' process
Concerns over consultation, 'bullying' tactics and restrictions on MHKs
Visitors told to prepare for new ETA rules
Electronic Travel Authorisations to be enforced from 23 April